CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, UBS Group Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price target boosted by UBS Group from $340.00 to $360.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently issued reports on CYBR. Wedbush increased their price objective on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Robert W. Baird increased their price objective on shares of CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Rosenblatt Securities reiterated a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research note on Tuesday, August 6th. Cantor Fitzgerald increased their price objective on shares of CyberArk Software from $300.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Scotiabank assumed coverage on shares of CyberArk Software in a research note on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price objective on the stock. One research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Price Performance

Shares of CYBR stock opened at $305.27 on Thursday. The company has a market capitalization of $13.30 billion, a P/E ratio of 1,130.63 and a beta of 1.13. The company’s 50-day simple moving average is $285.06 and its two-hundred day simple moving average is $267.28. CyberArk Software has a one year low of $183.28 and a one year high of $318.16.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results 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 business had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. During the same period in the prior year, the firm earned ($0.31) EPS. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, research analysts expect that CyberArk Software will post -0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings in shares of CyberArk Software by 58.3% in the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock worth $8,830,000 after buying an additional 12,242 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of CyberArk Software during the first quarter worth $2,741,000. Price T Rowe Associates Inc. MD raised its holdings in shares of CyberArk Software by 715.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock worth $14,946,000 after purchasing an additional 49,360 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in shares of CyberArk Software during the second quarter worth $711,000. Finally, 1832 Asset Management L.P. raised its holdings in shares of CyberArk Software by 1,291.7% during the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock worth $102,630,000 after purchasing an additional 358,602 shares during the last quarter. Hedge funds and other 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.