DA Davidson Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price increased by research analysts at DA Davidson from $360.00 to $390.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. DA Davidson’s target price points to a potential upside of 14.75% from the company’s previous close.

A number of other analysts also recently weighed in on CYBR. Susquehanna boosted their target price on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. BTIG Research lifted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their target price 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. Mizuho raised their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their target price on CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, CyberArk Software currently has an average rating of “Moderate Buy” and an average target price of $344.22.

CyberArk Software Price Performance

NASDAQ CYBR traded up $4.22 during trading on Friday, reaching $339.88. The company’s stock had a trading volume of 53,851 shares, compared to its average volume of 392,655. The stock has a market capitalization of $14.81 billion, a PE ratio of 1,258.86 and a beta of 1.13. The firm has a fifty day moving average of $310.94 and a 200 day moving average of $286.38. CyberArk Software has a one year low of $209.50 and a one year high of $348.02.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.48. The business had revenue of $240.10 million during 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%. CyberArk Software’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.31) earnings per share. Research analysts expect that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in shares of CyberArk Software by 23.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the technology company’s stock valued at $276,000 after buying an additional 191 shares in the last quarter. CIBC Asset Management Inc raised its holdings in CyberArk Software by 6.4% during the second quarter. CIBC Asset Management Inc now owns 3,814 shares of the technology company’s stock valued at $1,043,000 after acquiring an additional 228 shares during the period. Foundations Investment Advisors LLC lifted its position in shares of CyberArk Software by 36.7% in the second quarter. Foundations Investment Advisors LLC now owns 2,746 shares of the technology company’s stock valued at $751,000 after acquiring an additional 737 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of CyberArk Software by 3.9% in the second quarter. TD Asset Management Inc now owns 14,466 shares of the technology company’s stock worth $3,955,000 after acquiring an additional 541 shares during the period. Finally, Arcadia Investment Management Corp MI grew its stake in CyberArk Software by 42.2% during the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after acquiring an additional 54 shares in the last quarter. 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.