Barclays Raises CyberArk Software (NASDAQ:CYBR) Price Target to $330.00

CyberArk Software (NASDAQ:CYBR) had its target price raised by Barclays from $315.00 to $330.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their price target on CyberArk Software from $315.00 to $330.00 and gave the stock a buy rating in a research note on Tuesday, September 24th. Wedbush upped their target price on shares of CyberArk Software from $300.00 to $325.00 and gave the company an outperform rating in a research note on Tuesday, October 1st. Needham & Company LLC reissued a buy rating and set a $310.00 price objective on shares of CyberArk Software in a report on Friday, August 9th. Susquehanna increased their price objective on shares of CyberArk Software from $310.00 to $320.00 and gave the company a positive rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada began coverage on shares of CyberArk Software in a research report on Friday, September 20th. They issued an outperform rating and a $328.00 target price for the company. One research analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $297.84.

CyberArk Software Stock Performance

Shares of CYBR opened at $294.46 on Monday. The firm’s 50-day simple moving average is $275.01 and its two-hundred day simple moving average is $259.81. CyberArk Software has a fifty-two week low of $154.76 and a fifty-two week high of $294.89. The stock has a market cap of $12.44 billion, a PE ratio of -460.09 and a beta of 1.12.

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

Hedge Funds Weigh In On CyberArk Software

Hedge funds have recently made changes to their positions in the business. First Dallas Securities Inc. grew its stake in CyberArk Software by 3.2% during the first quarter. First Dallas Securities Inc. now owns 1,600 shares of the technology company’s stock valued at $425,000 after acquiring an additional 50 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in CyberArk Software by 42.2% in the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after buying an additional 54 shares during the last quarter. Juncture Wealth Strategies LLC lifted its holdings in shares of CyberArk Software by 2.1% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after acquiring an additional 57 shares during the last quarter. Legato Capital Management LLC lifted its stake in CyberArk Software by 3.7% in the second quarter. Legato Capital Management LLC now owns 1,940 shares of the technology company’s stock worth $530,000 after purchasing an additional 70 shares during the last quarter. Finally, Diversified Trust Co grew its stake in shares of CyberArk Software by 3.1% during the third quarter. Diversified Trust Co now owns 2,498 shares of the technology company’s stock valued at $728,000 after buying an additional 76 shares during the last quarter. 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.