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

CyberArk Software (NASDAQ:CYBR) had its price objective boosted by Cantor Fitzgerald from $300.00 to $335.00 in a research note issued to investors on Tuesday morning, 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.

A number of other research analysts have also commented on the company. Scotiabank assumed coverage on CyberArk Software in a report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price objective on the stock. BTIG Research lifted their price objective on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays lifted their price objective on CyberArk Software from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a research note on Friday, August 9th. Finally, Citigroup lifted their target price on CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $307.92.

CyberArk Software Stock Down 0.1 %

CYBR stock opened at $276.16 on Tuesday. CyberArk Software has a 52 week low of $167.13 and a 52 week high of $308.63. The stock has a market capitalization of $12.03 billion, a PE ratio of -863.00 and a beta of 1.12. The firm has a 50 day moving average of $282.28 and a 200 day moving average of $263.37.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The company had revenue of $224.71 million for the quarter, compared to analyst estimates of $219.06 million. CyberArk Software had a negative net margin of 1.53% and a negative return on equity of 0.21%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.58) earnings per share. On average, equities research analysts expect that CyberArk Software will post -1.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CYBR. RGM Capital LLC increased its stake in CyberArk Software by 2.1% in the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after buying an additional 16,530 shares during the period. Whale Rock Capital Management LLC increased its position in CyberArk Software by 21.6% during the 1st quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock worth $122,144,000 after purchasing an additional 81,801 shares in the last quarter. Swedbank AB increased its position in CyberArk Software by 11.1% during 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. Acadian Asset Management LLC grew its position in CyberArk Software by 38.2% in the first quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock valued at $107,642,000 after acquiring an additional 112,112 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of CyberArk Software by 1,291.7% during the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after buying an additional 358,602 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Company Profile

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.