CyberArk Software (NASDAQ:CYBR) Price Target Raised to $415.00 at Rosenblatt Securities

CyberArk Software (NASDAQ:CYBR) had its target price raised by research analysts at Rosenblatt Securities from $345.00 to $415.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 12.61% from the stock’s current price.

A number of other research firms have also recently issued reports on CYBR. Scotiabank increased their price objective 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. Robert W. Baird increased their price objective on shares of CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Morgan Stanley reissued an “equal weight” rating and set a $316.00 price objective on shares of CyberArk Software in a research report on Tuesday, December 31st. Wells Fargo & Company raised their price target on shares of CyberArk Software from $410.00 to $425.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Barclays raised their price target on shares of CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $367.44.

CyberArk Software Trading Down 1.9 %

Shares of CyberArk Software stock opened at $368.52 on Thursday. The business has a 50-day moving average price of $332.21 and a two-hundred day moving average price of $297.43. CyberArk Software has a 1-year low of $223.09 and a 1-year high of $376.61. The company has a market cap of $16.06 billion, a P/E ratio of 1,364.94 and a beta of 1.13.

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

Institutional Investors Weigh In On CyberArk Software

Several large investors have recently modified their holdings of the stock. Vontobel Holding Ltd. grew its stake in CyberArk Software by 2.0% in the 4th quarter. Vontobel Holding Ltd. now owns 33,949 shares of the technology company’s stock valued at $11,310,000 after buying an additional 652 shares in the last quarter. Van ECK Associates Corp grew its stake in CyberArk Software by 6.1% in the 4th quarter. Van ECK Associates Corp now owns 17,870 shares of the technology company’s stock valued at $5,953,000 after buying an additional 1,035 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in CyberArk Software by 195.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock valued at $170,614,000 after buying an additional 336,462 shares in the last quarter. Sycomore Asset Management grew its stake in CyberArk Software by 39.4% in the 4th quarter. Sycomore Asset Management now owns 44,312 shares of the technology company’s stock valued at $14,763,000 after buying an additional 12,514 shares in the last quarter. Finally, Kestra Private Wealth Services LLC bought a new position in CyberArk Software in the 4th quarter valued at $964,000. Hedge funds and other institutional investors 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.