CyberArk Software (NASDAQ:CYBR) Price Target Raised to $355.00 at Robert W. Baird

CyberArk Software (NASDAQ:CYBR) had its price objective upped by Robert W. Baird from $315.00 to $355.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other analysts also recently weighed in on CYBR. Wedbush increased their target price on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. KeyCorp increased their price objective on CyberArk Software from $310.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of CyberArk Software in a research note on Friday, August 9th. 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. Finally, Susquehanna boosted their price objective on shares of CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, CyberArk Software presently has an average rating of “Moderate Buy” and a consensus target price of $306.58.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $290.04 on Thursday. The business’s 50-day simple moving average is $282.18 and its 200-day simple moving average is $262.32. CyberArk Software has a 52 week low of $154.76 and a 52 week high of $308.63. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of -453.19 and a beta of 1.12.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.40 by $0.14. The company had revenue of $224.71 million for the quarter, compared to the consensus estimate of $219.06 million. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.58) earnings per share. As a group, equities research analysts forecast that CyberArk Software will post -1.06 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds have recently modified their holdings of CYBR. Future Financial Wealth Managment LLC bought a new stake in CyberArk Software during the 1st quarter valued at approximately $80,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of CyberArk Software during the first quarter valued at approximately $526,000. KRS Capital Management LLC grew its stake in CyberArk Software by 9.4% in the first quarter. KRS Capital Management LLC now owns 2,800 shares of the technology company’s stock worth $744,000 after purchasing an additional 240 shares during the period. First Dallas Securities Inc. raised its holdings in CyberArk Software by 3.2% in the first quarter. First Dallas Securities Inc. now owns 1,600 shares of the technology company’s stock worth $425,000 after purchasing an additional 50 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in CyberArk Software by 38.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,367 shares of the technology company’s stock valued at $1,160,000 after buying an additional 1,219 shares during the period. Hedge funds and other institutional investors 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.