CyberArk Software (NASDAQ:CYBR) Price Target Raised to $410.00 at Needham & Company LLC

CyberArk Software (NASDAQ:CYBR) had its price objective raised by Needham & Company LLC from $360.00 to $410.00 in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. KeyCorp raised their target price on shares of CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Royal Bank of Canada lifted their price objective on CyberArk Software from $358.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Susquehanna increased their target price on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Scotiabank initiated coverage on CyberArk Software in a research report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price target on the stock. Finally, Stifel Nicolaus raised their price objective on CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $350.22.

CyberArk Software Trading Up 0.2 %

Shares of NASDAQ:CYBR opened at $344.55 on Thursday. The company has a market cap of $15.01 billion, a price-to-earnings ratio of 1,276.16 and a beta of 1.13. CyberArk Software has a 12 month low of $213.37 and a 12 month high of $348.29. The company has a 50-day moving average price of $316.84 and a 200-day moving average price of $289.43.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same quarter last year, the business posted ($0.31) EPS. The business’s revenue was up 25.6% on a year-over-year basis. As a group, research analysts forecast that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Assetmark Inc. lifted its position in shares of CyberArk Software by 1,025.0% during the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after buying an additional 123 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in CyberArk Software during the third quarter valued at approximately $51,000. Future Financial Wealth Managment LLC bought a new position in shares of CyberArk Software in the third quarter worth approximately $87,000. Centaurus Financial Inc. purchased a new stake in shares of CyberArk Software in the second quarter worth $109,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of CyberArk Software during the 3rd quarter valued at $144,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.