CyberArk Software (NASDAQ:CYBR) PT Raised to $340.00

CyberArk Software (NASDAQ:CYBR) had its target price boosted by KeyCorp from $310.00 to $340.00 in a research report report published on Friday morning, Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 target price on shares of CyberArk Software in a research report on Friday, August 9th. Wedbush increased their price objective on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Jefferies Financial Group raised their target price on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. BTIG Research upped their price target on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Guggenheim reissued a “buy” rating and issued a $300.00 price objective on shares of CyberArk Software in a report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $299.64.

CyberArk Software Stock Up 1.5 %

CYBR stock opened at $299.98 on Friday. The firm has a market cap of $12.68 billion, a PE ratio of -468.72 and a beta of 1.12. The business has a 50 day moving average of $280.22 and a 200-day moving average of $261.10. CyberArk Software has a 12-month low of $154.76 and a 12-month high of $308.63.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.14. The firm had revenue of $224.71 million during the quarter, compared to analyst estimates of $219.06 million. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The business’s revenue was up 27.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.58) EPS. On average, research analysts expect that CyberArk Software will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of CyberArk Software by 45.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 171,893 shares of the technology company’s stock worth $50,126,000 after buying an additional 53,502 shares during the last quarter. Nepsis Inc. grew its position in CyberArk Software by 2.9% in the third quarter. Nepsis Inc. now owns 57,239 shares of the technology company’s stock worth $16,691,000 after acquiring an additional 1,595 shares in the last quarter. Blue Trust Inc. increased its stake in CyberArk Software by 49.4% in the third quarter. Blue Trust Inc. now owns 1,155 shares of the technology company’s stock valued at $316,000 after acquiring an additional 382 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in CyberArk Software by 26.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,123 shares of the technology company’s stock valued at $1,202,000 after purchasing an additional 852 shares in the last quarter. Finally, Swedbank AB lifted its stake in CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after purchasing an additional 45,799 shares during the last quarter. 91.84% of the stock is currently owned by 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.