CyberArk Software (NASDAQ:CYBR) Price Target Raised to $335.00

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by Cantor Fitzgerald from $300.00 to $335.00 in a research report sent to investors on Tuesday, Marketbeat reports. Cantor Fitzgerald currently has an overweight rating on the technology company’s stock. Cantor Fitzgerald also issued estimates for CyberArk Software’s FY2024 earnings at ($0.94) EPS.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group increased their price objective on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Wedbush lifted their price objective on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. DA Davidson lifted their target price on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a report on Friday, August 9th. Scotiabank assumed coverage on shares of CyberArk Software in a report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 target price for the company. Finally, Susquehanna lifted their target price on shares of CyberArk Software from $310.00 to $320.00 and gave the company a “positive” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CyberArk Software has an average rating of “Moderate Buy” and an average price target of $307.92.

CyberArk Software Stock Down 0.1 %

Shares of CYBR stock opened at $276.16 on Tuesday. The stock’s fifty day simple moving average is $282.28 and its 200 day simple moving average is $263.37. CyberArk Software has a twelve month low of $167.13 and a twelve month high of $308.63. The firm has a market capitalization of $12.03 billion, a P/E ratio of -863.00 and a beta of 1.12.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.40 by $0.14. The firm had revenue of $224.71 million during 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 quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.58) earnings per share. As a group, equities research analysts expect that CyberArk Software will post -1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of CyberArk Software during the first quarter worth approximately $526,000. Diversified Trust Co grew its holdings in shares of CyberArk Software by 11.3% during the first quarter. Diversified Trust Co now owns 3,831 shares of the technology company’s stock worth $1,018,000 after purchasing an additional 390 shares during the last quarter. Norden Group LLC grew its holdings in shares of CyberArk Software by 1,204.7% during the first quarter. Norden Group LLC now owns 30,960 shares of the technology company’s stock worth $8,224,000 after purchasing an additional 28,587 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of CyberArk Software by 4.7% during the first quarter. Van ECK Associates Corp now owns 14,285 shares of the technology company’s stock valued at $3,795,000 after acquiring an additional 639 shares during the period. Finally, Private Advisor Group LLC lifted its stake in shares of CyberArk Software by 3.0% during the first quarter. Private Advisor Group LLC now owns 4,805 shares of the technology company’s stock valued at $1,272,000 after acquiring an additional 141 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.