CyberArk Software (NASDAQ:CYBR) Price Target Raised to $375.00

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by JPMorgan Chase & Co. from $355.00 to $375.00 in a report published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other analysts have also issued reports about the company. Royal Bank of Canada lifted their price target on CyberArk Software from $328.00 to $358.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Truist Financial reaffirmed a “buy” rating and set a $350.00 price objective (up previously from $300.00) on shares of CyberArk Software in a research note on Thursday, November 14th. Canaccord Genuity Group raised their target price on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. KeyCorp upped their price target on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Wedbush lifted their price objective on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.41.

CyberArk Software Price Performance

CyberArk Software stock opened at $305.08 on Monday. CyberArk Software has a 12 month low of $205.59 and a 12 month high of $333.32. The stock has a market capitalization of $13.29 billion, a PE ratio of 1,129.97 and a beta of 1.13. The business has a 50 day simple moving average of $304.74 and a 200-day simple moving average of $280.48.

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, topping analysts’ consensus estimates of $0.46 by $0.48. The company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.31) earnings per share. On average, equities research analysts anticipate that CyberArk Software will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Institutional investors and hedge funds have recently made changes to their positions in the stock. Coldstream Capital Management Inc. lifted its stake in CyberArk Software by 3.5% in the third quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock worth $359,000 after acquiring an additional 42 shares during the last quarter. Greenleaf Trust grew its stake in shares of CyberArk Software by 2.5% during the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock worth $533,000 after purchasing an additional 45 shares in the last quarter. Signaturefd LLC increased its holdings in CyberArk Software by 4.2% in the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after buying an additional 49 shares during the last quarter. Austin Private Wealth LLC raised its stake in CyberArk Software by 6.8% in the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after buying an additional 52 shares in the last quarter. Finally, Arcadia Investment Management Corp MI lifted its holdings in CyberArk Software by 42.2% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after buying an additional 54 shares during the last quarter. 91.84% of the stock is 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.