BTIG Research Boosts CyberArk Software (NASDAQ:CYBR) Price Target to $325.00

CyberArk Software (NASDAQ:CYBR) had its target price hoisted by BTIG Research from $310.00 to $325.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Several other equities research analysts also recently commented on CYBR. Needham & Company LLC restated a buy rating and set a $310.00 price objective on shares of CyberArk Software in a report on Friday, August 9th. Jefferies Financial Group upped their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a buy rating in a report on Tuesday, September 24th. KeyCorp raised their price objective on shares of CyberArk Software from $300.00 to $310.00 and gave the company an overweight rating in a research note on Friday, August 9th. Royal Bank of Canada began coverage on shares of CyberArk Software in a research report on Friday, September 20th. They issued an outperform rating and a $328.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on CyberArk Software from $295.00 to $315.00 and gave the stock an outperform rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, CyberArk Software has an average rating of Moderate Buy and an average target price of $297.84.

CyberArk Software Stock Up 0.3 %

NASDAQ:CYBR opened at $295.30 on Wednesday. The firm has a market capitalization of $12.48 billion, a P/E ratio of -461.41 and a beta of 1.12. CyberArk Software has a twelve month low of $154.76 and a twelve month high of $299.03. The company has a fifty day moving average of $275.98 and a 200-day moving average of $260.02.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.14. The firm had revenue of $224.71 million for the quarter, compared to analyst estimates of $219.06 million. CyberArk Software had a negative net margin of 1.53% and a negative return on equity of 0.21%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.58) earnings per share. On average, analysts anticipate that CyberArk Software will post -1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYBR. Creative Planning grew its stake in CyberArk Software by 14.0% in the 3rd quarter. Creative Planning now owns 11,971 shares of the technology company’s stock valued at $3,491,000 after buying an additional 1,471 shares in the last quarter. Juncture Wealth Strategies LLC boosted its holdings in shares of CyberArk Software by 2.1% in the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after acquiring an additional 57 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of CyberArk Software in the third quarter valued at $87,000. Diversified Trust Co raised its stake in shares of CyberArk Software by 3.1% during the 3rd quarter. Diversified Trust Co now owns 2,498 shares of the technology company’s stock valued at $728,000 after purchasing an additional 76 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in CyberArk Software by 5.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 179,960 shares of the technology company’s stock worth $52,478,000 after purchasing an additional 8,879 shares during the period. Institutional investors own 91.84% of the company’s stock.

About CyberArk Software

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.