CyberArk Software (NASDAQ:CYBR) Price Target Raised to $400.00

CyberArk Software (NASDAQ:CYBR) had its price target upped by Scotiabank from $340.00 to $400.00 in a research report report published on Tuesday,Benzinga reports. Scotiabank currently has a sector outperform rating on the technology company’s stock.

Several other research firms have also recently weighed in on CYBR. KeyCorp lifted their price objective on CyberArk Software from $355.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday. Susquehanna boosted their price target on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Robert W. Baird boosted their price target on CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Jefferies Financial Group boosted their price target on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, StockNews.com raised CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.74.

CyberArk Software Stock Performance

CyberArk Software stock opened at $358.93 on Tuesday. The stock’s 50 day simple moving average is $327.68 and its two-hundred day simple moving average is $294.66. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 1,329.42 and a beta of 1.13. CyberArk Software has a fifty-two week low of $223.09 and a fifty-two week high of $364.18.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.48. The business had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.31) EPS. On average, analysts predict that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

A number of hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its stake in CyberArk Software by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after buying an additional 9,570 shares during the last quarter. Groupama Asset Managment increased its stake in shares of CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares in the last quarter. Nepsis Inc. increased its stake in shares of CyberArk Software by 882.4% in the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after purchasing an additional 505,088 shares in the last quarter. Swedbank AB increased its stake in shares of CyberArk Software by 19.0% in the 4th quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock worth $181,600,000 after purchasing an additional 87,201 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its stake in shares of CyberArk Software by 3.3% in the 3rd quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after purchasing an additional 14,927 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

CyberArk Software Company Profile

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.