Wells Fargo & Company Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price objective upped by Wells Fargo & Company from $410.00 to $425.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 17.45% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Scotiabank boosted their price objective on shares of CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Piper Sandler upped their price target on shares of CyberArk Software from $345.00 to $380.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Needham & Company LLC boosted their target price on CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. JPMorgan Chase & Co. increased their price target on CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Mizuho lifted their price target on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $362.26.

CyberArk Software Stock Up 0.6 %

Shares of NASDAQ CYBR traded up $2.13 during midday trading on Monday, hitting $361.85. The stock had a trading volume of 61,093 shares, compared to its average volume of 458,165. The company has a market capitalization of $15.77 billion, a price-to-earnings ratio of 1,333.47 and a beta of 1.13. CyberArk Software has a 1-year low of $223.09 and a 1-year high of $366.48. The company has a fifty day moving average price of $329.93 and a 200 day moving average price of $296.06.

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

Institutional Investors Weigh In On CyberArk Software

A number of large investors have recently bought and sold shares of CYBR. Nepsis Inc. raised its holdings in shares of CyberArk Software by 882.4% during the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock valued at $187,339,000 after purchasing an additional 505,088 shares during the period. Jennison Associates LLC increased its position in CyberArk Software by 32.3% in the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after buying an additional 391,900 shares in the last quarter. International Assets Investment Management LLC acquired a new position in CyberArk Software during the 3rd quarter worth approximately $82,485,000. Clearbridge Investments LLC boosted its holdings in CyberArk Software by 250.0% in the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after acquiring an additional 160,269 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of CyberArk Software by 19.0% during the fourth quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock valued at $181,600,000 after acquiring an additional 87,201 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

About CyberArk Software

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.