CyberArk Software (NASDAQ:CYBR) Price Target Raised to $425.00 at Wells Fargo & Company

CyberArk Software (NASDAQ:CYBR) had its price target raised by Wells Fargo & Company from $410.00 to $425.00 in a report issued on Monday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other analysts have also commented on CYBR. JPMorgan Chase & Co. raised their target price on CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. BTIG Research boosted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Piper Sandler increased their price target on CyberArk Software from $345.00 to $380.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. KeyCorp lifted their target price on shares of CyberArk Software from $355.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Citigroup raised their target price on CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $363.56.

CyberArk Software Stock Down 1.9 %

Shares of NASDAQ CYBR opened at $368.52 on Monday. The firm has a market cap of $16.06 billion, a PE ratio of 1,364.94 and a beta of 1.13. The business has a fifty day simple moving average of $332.21 and a two-hundred day simple moving average of $297.43. CyberArk Software has a twelve month low of $223.09 and a twelve month high of $376.61.

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

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of CyberArk Software in the fourth quarter valued at $25,000. Assetmark Inc. raised its holdings in shares of CyberArk Software by 1,025.0% in the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after acquiring an additional 123 shares during the last quarter. Brown Lisle Cummings Inc. purchased a new stake in shares of CyberArk Software in the fourth quarter valued at $50,000. Transcendent Capital Group LLC acquired a new stake in shares of CyberArk Software during the third quarter valued at $51,000. Finally, Kieckhefer Group LLC purchased a new stake in CyberArk Software during the 4th quarter worth about $67,000. 91.84% of the stock is owned by institutional investors and hedge funds.

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.