Rosenblatt Securities Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price target raised by Rosenblatt Securities from $345.00 to $415.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other research analysts have also issued reports about the stock. Mizuho raised their target price on shares of CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a report on Friday, December 13th. UBS Group upped their price objective on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Canaccord Genuity Group increased their target price on CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Piper Sandler boosted their price objective on shares of CyberArk Software from $345.00 to $380.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada increased their price target on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, CyberArk Software presently has an average rating of “Moderate Buy” and a consensus target price of $367.44.

CyberArk Software Stock Performance

CYBR stock opened at $371.63 on Thursday. CyberArk Software has a 52-week low of $223.09 and a 52-week high of $377.22. The firm has a market capitalization of $16.19 billion, a price-to-earnings ratio of 1,376.46 and a beta of 1.13. The firm has a 50 day moving average price of $333.24 and a 200-day moving average price of $297.93.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.48. The firm had revenue of $240.10 million for 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%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.31) EPS. As a group, sell-side analysts forecast that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nepsis Inc. grew its stake in CyberArk Software by 882.4% during the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after buying an additional 505,088 shares during the last quarter. Jennison Associates LLC grew its position in CyberArk Software by 32.3% in the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after buying an additional 391,900 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of CyberArk Software by 195.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock worth $170,614,000 after acquiring an additional 336,462 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of CyberArk Software in the 3rd quarter valued at approximately $82,485,000. Finally, Clearbridge Investments LLC boosted its position in shares of 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 in the last quarter. 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.