CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, JMP Securities Analyst Says

CyberArk Software (NASDAQ:CYBR) had its target price raised by JMP Securities from $310.00 to $360.00 in a report published on Thursday,Benzinga reports. The firm currently has a market outperform rating on the technology company’s stock.

Several other research firms have also recently issued reports on CYBR. Barclays upped their price target on shares of CyberArk Software from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Mizuho increased their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler boosted their price objective on CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday. Jefferies Financial Group increased their target price on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Oppenheimer boosted their price target on CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Price Performance

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

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

Institutional Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC grew its holdings in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares during the period. Groupama Asset Managment grew its stake in shares of CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the last quarter. RGM Capital LLC grew its stake in shares of CyberArk Software by 2.1% in the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock worth $222,599,000 after purchasing an additional 16,530 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in CyberArk Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock valued at $134,422,000 after purchasing an additional 14,927 shares during the last quarter. Finally, Swedbank AB lifted its stake in CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after purchasing an additional 45,799 shares during the last quarter. 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.