Brokerages Set CyberArk Software Ltd. (NASDAQ:CYBR) Price Target at $358.74

CyberArk Software Ltd. (NASDAQ:CYBR) has earned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and twenty-six have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $367.44.

Several equities research analysts have recently commented on the stock. Scotiabank raised their target price on shares of CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Needham & Company LLC increased their target price on CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. Piper Sandler boosted their price objective on shares of CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, StockNews.com raised CyberArk Software from a “hold” rating to a “buy” rating in a report on Monday, December 9th.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of CyberArk Software by 506.7% during the second quarter. Dimensional Fund Advisors LP now owns 6,565 shares of the technology company’s stock valued at $1,795,000 after purchasing an additional 5,483 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in CyberArk Software in the second quarter valued at about $711,000. Toronto Dominion Bank bought a new position in CyberArk Software in the second quarter worth about $164,000. APG Asset Management N.V. lifted its position in shares of CyberArk Software by 8.1% during the second quarter. APG Asset Management N.V. now owns 28,311 shares of the technology company’s stock valued at $7,223,000 after buying an additional 2,116 shares during the last quarter. Finally, MBB Public Markets I LLC bought a new stake in shares of CyberArk Software in the 2nd quarter valued at about $801,000. Institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Performance

Shares of CYBR opened at $370.98 on Monday. The firm has a 50 day moving average price of $335.12 and a 200-day moving average price of $299.11. CyberArk Software has a fifty-two week low of $223.09 and a fifty-two week high of $378.62. The firm has a market cap of $16.16 billion, a price-to-earnings ratio of 1,374.05 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to the consensus estimate 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 previous year, the firm earned ($0.31) earnings per share. As a group, equities research analysts predict that CyberArk Software will post -0.58 earnings per share for the current year.

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.