CyberArk Software (NASDAQ:CYBR) Price Target Raised to $345.00 at Piper Sandler

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by Piper Sandler from $300.00 to $345.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities research analysts have also weighed in on CYBR. Robert W. Baird upped their target price on shares of CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC restated a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a research report on Friday, August 9th. Susquehanna raised their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a report on Thursday. DA Davidson boosted their target price on CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Wedbush raised their price target on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, CyberArk Software has an average rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Stock Up 1.3 %

Shares of CYBR opened at $305.27 on Thursday. The company has a 50-day moving average price of $285.06 and a two-hundred day moving average price of $267.28. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 1,130.63 and a beta of 1.13. CyberArk Software has a 12 month low of $183.28 and a 12 month high of $318.16.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. The business had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. CyberArk Software’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.31) EPS. Equities research analysts expect that CyberArk Software will post -0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently added to or reduced their stakes in CYBR. Greenleaf Trust increased its stake in shares of CyberArk Software by 2.5% in the 3rd quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after acquiring an additional 45 shares during the last quarter. Signaturefd LLC boosted its stake in CyberArk Software by 4.2% during the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock worth $352,000 after acquiring an additional 49 shares during the last quarter. Austin Private Wealth LLC grew its holdings in CyberArk Software by 6.8% during the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after purchasing an additional 52 shares during the period. Arcadia Investment Management Corp MI increased its stake 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 valued at $50,000 after purchasing an additional 54 shares in the last quarter. Finally, Juncture Wealth Strategies LLC raised its holdings in CyberArk Software by 2.1% in the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after purchasing an additional 57 shares during the period. 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.