Piper Sandler Increases CyberArk Software (NASDAQ:CYBR) Price Target to $380.00

CyberArk Software (NASDAQ:CYBRFree Report) had its price objective hoisted by Piper Sandler from $345.00 to $380.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other brokerages have also recently commented on CYBR. Mizuho raised their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Susquehanna raised their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. 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 research report on Tuesday, September 24th. StockNews.com upgraded CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Finally, Stifel Nicolaus upped their price target on CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average price target of $346.52.

Check Out Our Latest Stock Analysis on CyberArk Software

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $344.55 on Monday. The company has a market cap of $15.01 billion, a PE ratio of 1,276.16 and a beta of 1.13. CyberArk Software has a fifty-two week low of $213.37 and a fifty-two week high of $348.29. The business has a 50-day simple moving average of $314.25 and a two-hundred day simple moving average of $288.66.

CyberArk Software (NASDAQ:CYBRGet Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same period last year, the business posted ($0.31) earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, sell-side analysts predict that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CYBR. Jennison Associates LLC lifted its position in CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the last quarter. Groupama Asset Managment boosted its position in shares of CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares in the last quarter. RGM Capital LLC boosted its holdings in CyberArk Software by 2.1% during the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock worth $222,599,000 after buying an additional 16,530 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of CyberArk Software by 3.3% in the 3rd quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after acquiring an additional 14,927 shares during the last quarter. Finally, Swedbank AB increased its stake in CyberArk Software by 11.1% in the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after purchasing an additional 45,799 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

About CyberArk Software

(Get Free Report)

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.

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Analyst Recommendations for CyberArk Software (NASDAQ:CYBR)

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