DA Davidson Boosts CyberArk Software (NASDAQ:CYBR) Price Target to $390.00

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by DA Davidson from $360.00 to $390.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts have also recently commented on the company. Royal Bank of Canada boosted their target price on CyberArk Software from $328.00 to $358.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. KeyCorp boosted their price objective on CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Mizuho raised their target price on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Robert W. Baird boosted their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus raised their price objective on shares of CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $345.22.

CyberArk Software Price Performance

Shares of CyberArk Software stock opened at $339.47 on Friday. CyberArk Software has a 1-year low of $209.50 and a 1-year high of $348.02. The business’s fifty day moving average price is $311.92 and its two-hundred day moving average price is $287.20. The company has a market capitalization of $14.79 billion, a P/E ratio of 1,257.34 and a beta of 1.13.

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

Institutional Trading of CyberArk Software

A number of institutional investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc acquired a new position in CyberArk Software in the 2nd quarter worth about $711,000. HighTower Advisors LLC increased its holdings in CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock worth $4,212,000 after buying an additional 2,062 shares during the last quarter. Sycomore Asset Management increased its holdings in CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock worth $15,973,000 after buying an additional 16,294 shares during the last quarter. Groupama Asset Managment lifted its stake in CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after acquiring an additional 5,402 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in CyberArk Software by 0.8% in the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after acquiring an additional 9,570 shares during the last quarter. Institutional investors and hedge funds 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.