Barclays Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price increased by equities researchers at Barclays from $375.00 to $450.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 8.61% from the stock’s current price.

A number of other brokerages have also issued reports on CYBR. Citigroup increased their price target on CyberArk Software from $355.00 to $410.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. JMP Securities reissued a “market outperform” rating and set a $360.00 target price on shares of CyberArk Software in a research note on Tuesday, January 14th. Rosenblatt Securities upped their price target on CyberArk Software from $415.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday. DA Davidson lifted their price objective on shares of CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Finally, Needham & Company LLC upped their target price on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a research report on Thursday, January 9th. Two investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $379.33.

CyberArk Software Stock Up 8.8 %

Shares of CYBR opened at $414.31 on Friday. CyberArk Software has a 52 week low of $223.09 and a 52 week high of $418.49. The stock has a market cap of $18.05 billion, a price-to-earnings ratio of 1,534.54 and a beta of 1.15. The business has a 50-day simple moving average of $344.38 and a two-hundred day simple moving average of $305.97.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. On average, equities analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently made changes to their positions in the company. Jennison Associates LLC lifted its stake in CyberArk Software by 32.3% in the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after purchasing an additional 391,900 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after buying an additional 5,402 shares during the period. First Trust Advisors LP lifted its stake in shares of CyberArk Software by 2.3% during the 4th quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock worth $313,084,000 after acquiring an additional 20,832 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in CyberArk Software by 8.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock valued at $292,651,000 after acquiring an additional 68,359 shares during the period. Finally, Norges Bank bought a new position in CyberArk Software in the 4th quarter valued at $203,375,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

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.