CyberArk Software (NASDAQ:CYBR) Given New $440.00 Price Target at Piper Sandler

CyberArk Software (NASDAQ:CYBR) had its price target lifted by analysts at Piper Sandler from $380.00 to $440.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target indicates a potential upside of 15.69% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $415.00 target price on shares of CyberArk Software in a research report on Monday, January 27th. Wells Fargo & Company lifted their price target on shares of CyberArk Software from $410.00 to $425.00 and gave the company an “overweight” rating in a report on Monday, January 27th. BTIG Research upped their price objective on CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JMP Securities reiterated a “market outperform” rating and issued a $360.00 target price on shares of CyberArk Software in a report on Tuesday, January 14th. Finally, StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, CyberArk Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $371.89.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $380.34 on Thursday. The firm has a market cap of $16.57 billion, a P/E ratio of 1,408.72 and a beta of 1.15. CyberArk Software has a 1 year low of $223.09 and a 1 year high of $382.19. The firm’s 50 day moving average price is $337.03 and its 200 day moving average price is $301.09.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. During the same quarter in the previous year, the business earned ($0.31) earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, equities analysts predict that CyberArk Software will post -0.58 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors have recently made changes to their positions in CYBR. Plato Investment Management Ltd acquired a new position in CyberArk Software in the fourth quarter worth $39,000. Clal Insurance Enterprises Holdings Ltd grew its position in shares of CyberArk Software by 138.8% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 143,252 shares of the technology company’s stock valued at $47,724,000 after buying an additional 83,252 shares during the last quarter. Jones Financial Companies Lllp raised its stake in CyberArk Software by 2,123.3% during the fourth quarter. Jones Financial Companies Lllp now owns 667 shares of the technology company’s stock worth $222,000 after acquiring an additional 637 shares during the period. Norden Group LLC lifted its holdings in CyberArk Software by 3.2% in the fourth quarter. Norden Group LLC now owns 4,531 shares of the technology company’s stock worth $1,510,000 after acquiring an additional 141 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in CyberArk Software by 1,718.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 891 shares of the technology company’s stock valued at $285,000 after acquiring an additional 842 shares during the period. 91.84% of the stock is currently owned by institutional investors.

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.