JPMorgan Chase & Co. Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price objective hoisted by JPMorgan Chase & Co. from $375.00 to $431.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 10.52% from the company’s previous close.

Several other equities analysts have also recently issued reports on CYBR. Barclays upped their price target on shares of CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Citigroup raised their target price on CyberArk Software from $355.00 to $410.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Truist Financial increased their price target on CyberArk Software from $350.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Robert W. Baird lifted their price objective on CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Finally, UBS Group raised their price target on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $373.96.

CyberArk Software Stock Performance

NASDAQ CYBR opened at $389.97 on Tuesday. CyberArk Software has a 52-week low of $223.09 and a 52-week high of $394.31. The firm has a 50-day moving average of $340.76 and a 200-day moving average of $303.64. The stock has a market cap of $16.99 billion, a PE ratio of 1,444.39 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating 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 firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. During the same period in the prior year, the company posted ($0.31) EPS. The company’s revenue was up 25.6% compared to the same quarter last year. As a group, analysts predict that CyberArk Software will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds have recently modified their holdings of the company. Creative Planning lifted its position in shares of CyberArk Software by 14.0% in the 3rd quarter. Creative Planning now owns 11,971 shares of the technology company’s stock worth $3,491,000 after purchasing an additional 1,471 shares during the period. Swedbank AB boosted its holdings in CyberArk Software by 11.1% in the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after acquiring an additional 45,799 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of CyberArk Software by 26.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,123 shares of the technology company’s stock valued at $1,202,000 after acquiring an additional 852 shares in the last quarter. Blue Trust Inc. raised its position in shares of CyberArk Software by 49.4% in the 3rd quarter. Blue Trust Inc. now owns 1,155 shares of the technology company’s stock worth $316,000 after purchasing an additional 382 shares during the last quarter. Finally, Nepsis Inc. boosted its stake in CyberArk Software by 2.9% in the 3rd quarter. Nepsis Inc. now owns 57,239 shares of the technology company’s stock worth $16,691,000 after purchasing an additional 1,595 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.