CyberArk Software (NASDAQ:CYBR) Price Target Increased to $360.00 by Analysts at Oppenheimer

CyberArk Software (NASDAQ:CYBR) had its price target boosted by investment analysts at Oppenheimer from $310.00 to $360.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective would suggest a potential upside of 20.45% from the stock’s current price.

Several other research firms also recently weighed in on CYBR. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price target on shares of CyberArk Software in a research note on Friday, August 9th. Royal Bank of Canada assumed coverage on shares of CyberArk Software in a report on Friday, September 20th. They set an “outperform” rating and a $328.00 price objective for the company. DA Davidson boosted their price target on shares of CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Scotiabank assumed coverage on shares of CyberArk Software in a research report on Monday. They issued a “sector outperform” rating and a $340.00 price objective on the stock. Finally, Jefferies Financial Group lifted their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and a consensus target price of $305.04.

CyberArk Software Trading Down 0.4 %

CyberArk Software stock traded down $1.19 during trading hours on Tuesday, reaching $298.87. 112,602 shares of the stock were exchanged, compared to its average volume of 522,891. CyberArk Software has a twelve month low of $154.76 and a twelve month high of $308.63. The company has a market cap of $12.63 billion, a P/E ratio of -466.98 and a beta of 1.12. The stock has a 50 day moving average of $280.81 and a two-hundred day moving average of $261.38.

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

Hedge Funds Weigh In On CyberArk Software

Several institutional investors have recently modified their holdings of CYBR. Swedbank AB purchased a new stake in shares of CyberArk Software during the first quarter worth approximately $109,466,000. 1832 Asset Management L.P. grew its position in CyberArk Software by 1,291.7% in 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 buying an additional 358,602 shares during the last quarter. Anomaly Capital Management LP purchased a new stake in shares of CyberArk Software in the second quarter valued at about $49,145,000. Clearbridge Investments LLC increased its position in CyberArk Software by 250.0% during the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after purchasing an additional 160,269 shares during the period. Finally, Acadian Asset Management LLC raised its position in CyberArk Software by 38.2% in the first quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock worth $107,642,000 after acquiring an additional 112,112 shares in the last quarter. Institutional investors and hedge funds 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.