Scotiabank Raises CyberArk Software (NASDAQ:CYBR) Price Target to $400.00

CyberArk Software (NASDAQ:CYBR) had its target price upped by equities research analysts at Scotiabank from $340.00 to $400.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price target would indicate a potential upside of 13.12% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Wedbush lifted their target price on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. DA Davidson lifted their price target on CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada increased their price objective on CyberArk Software from $385.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group raised their target price on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Oppenheimer upped their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $358.74.

CyberArk Software Trading Up 0.4 %

CyberArk Software stock traded up $1.40 during trading on Tuesday, hitting $353.62. The company had a trading volume of 274,694 shares, compared to its average volume of 486,889. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of 1,311.90 and a beta of 1.13. CyberArk Software has a 1-year low of $223.09 and a 1-year high of $363.00. The company’s 50 day simple moving average is $325.25 and its 200-day simple moving average is $293.63.

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

Institutional Investors Weigh In On CyberArk Software

Several hedge funds have recently modified their holdings of CYBR. Coldstream Capital Management Inc. raised its holdings in CyberArk Software by 3.5% in the third quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after buying an additional 42 shares during the period. Greenleaf Trust lifted its holdings in shares of CyberArk Software by 2.5% during the 3rd quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after acquiring an additional 45 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of CyberArk Software by 4.2% during the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after acquiring an additional 49 shares in the last quarter. Austin Private Wealth LLC lifted its holdings in shares of CyberArk Software by 6.8% during the 3rd quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after acquiring an additional 52 shares in the last quarter. Finally, Juncture Wealth Strategies LLC boosted its position in CyberArk Software by 2.1% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after purchasing an additional 57 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

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.