Robert W. Baird Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price target increased by Robert W. Baird from $355.00 to $370.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 21.28% from the company’s previous close.

Several other brokerages have also commented on CYBR. Stifel Nicolaus upped their price objective on shares of CyberArk Software from $306.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada increased their price target on shares of CyberArk Software from $328.00 to $358.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Barclays lifted their price objective on CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $335.00 target price on shares of CyberArk Software in a research note on Thursday, November 14th. Finally, KeyCorp lifted their price target on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $336.41.

CyberArk Software Price Performance

NASDAQ CYBR opened at $305.08 on Tuesday. CyberArk Software has a 1 year low of $205.59 and a 1 year high of $333.32. The stock has a market capitalization of $13.29 billion, a PE ratio of 1,129.97 and a beta of 1.13. The business’s 50-day moving average is $304.74 and its 200 day moving average is $280.48.

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, topping analysts’ consensus estimates of $0.46 by $0.48. The firm had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company earned ($0.31) EPS. As a group, equities research analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Coldstream Capital Management Inc. increased its holdings in CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock worth $359,000 after buying an additional 42 shares in the last quarter. Greenleaf Trust lifted its position in CyberArk Software by 2.5% during the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after purchasing an additional 45 shares during the period. Signaturefd LLC lifted its position in CyberArk Software by 4.2% during the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after purchasing an additional 49 shares during the period. Austin Private Wealth LLC boosted its holdings in CyberArk Software by 6.8% in the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock worth $238,000 after purchasing an additional 52 shares during the last quarter. Finally, Arcadia Investment Management Corp MI raised its stake in CyberArk Software by 42.2% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after buying an additional 54 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.