Jefferies Financial Group Increases CyberArk Software (NASDAQ:CYBR) Price Target to $330.00

CyberArk Software (NASDAQ:CYBR) had its price target increased by analysts at Jefferies Financial Group from $315.00 to $330.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 16.31% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. JMP Securities reissued a “market outperform” rating and set a $310.00 price objective on shares of CyberArk Software in a report on Monday, June 17th. Citigroup upped their price target on shares of CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price target on shares of CyberArk Software in a report on Friday, August 9th. DA Davidson upped their price target on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus target price of $295.92.

CyberArk Software Price Performance

Shares of CYBR opened at $283.73 on Tuesday. The firm has a market capitalization of $11.99 billion, a PE ratio of -443.33 and a beta of 1.11. CyberArk Software has a 1-year low of $152.03 and a 1-year high of $293.31. The company’s fifty day moving average price is $269.64 and its 200-day moving average price is $258.25.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. RGM Capital LLC raised its position in shares of CyberArk Software by 2.1% during the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock worth $222,599,000 after purchasing an additional 16,530 shares during the last quarter. Whale Rock Capital Management LLC grew its stake in CyberArk Software by 21.6% during the 1st quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock valued at $122,144,000 after acquiring an additional 81,801 shares in the last quarter. Swedbank AB purchased a new stake in CyberArk Software during the 1st quarter valued at about $109,466,000. Acadian Asset Management LLC grew its stake in CyberArk Software by 38.2% during the 1st quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock valued at $107,642,000 after acquiring an additional 112,112 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in CyberArk Software by 1,291.7% during the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after acquiring an additional 358,602 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.