CyberArk Software (NASDAQ:CYBR) Price Target Raised to $410.00

CyberArk Software (NASDAQ:CYBR) had its price objective boosted by Wells Fargo & Company from $350.00 to $410.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other research analysts have also issued reports on the stock. Susquehanna upped their target price on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Scotiabank began coverage on shares of CyberArk Software in a research note on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price objective for the company. Canaccord Genuity Group upped their price objective on shares of CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada upped their price objective on shares of CyberArk Software from $328.00 to $358.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, Stifel Nicolaus upped their price objective on shares of CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, CyberArk Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $345.22.

CyberArk Software Stock Up 1.1 %

CyberArk Software stock opened at $339.47 on Thursday. CyberArk Software has a 52 week low of $209.50 and a 52 week high of $348.02. The firm’s 50-day simple moving average is $311.92 and its 200 day simple moving average is $286.97. The firm has a market capitalization of $14.79 billion, a PE ratio of 1,257.34 and a beta of 1.13.

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

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Coldstream Capital Management Inc. boosted its holdings in CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock worth $359,000 after acquiring an additional 42 shares during the period. Greenleaf Trust boosted its stake in shares of CyberArk Software by 2.5% during the 3rd quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after buying an additional 45 shares during the last quarter. Signaturefd LLC boosted its stake in shares of CyberArk Software by 4.2% during the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after buying an additional 49 shares during the last quarter. Austin Private Wealth LLC boosted its stake in shares of CyberArk Software by 6.8% during the 3rd quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after buying an additional 52 shares during the last quarter. Finally, Arcadia Investment Management Corp MI boosted its stake in shares of CyberArk Software by 42.2% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after buying an additional 54 shares during the last quarter. 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.