CyberArk Software (NASDAQ:CYBR) Price Target Raised to $355.00 at Robert W. Baird

CyberArk Software (NASDAQ:CYBR) had its price objective upped by Robert W. Baird from $315.00 to $355.00 in a report released on Thursday, Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

Several other analysts also recently issued reports on the stock. BTIG Research lifted 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. Barclays boosted their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. KeyCorp raised their price target on shares of CyberArk Software from $310.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 target price on shares of CyberArk Software in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and an average target price of $306.58.

CyberArk Software Price Performance

NASDAQ CYBR traded up $6.53 during trading hours on Thursday, reaching $299.99. The company’s stock had a trading volume of 8,021 shares, compared to its average volume of 518,508. The firm has a fifty day simple moving average of $281.97 and a 200-day simple moving average of $262.09. The stock has a market cap of $12.68 billion, a P/E ratio of -458.53 and a beta of 1.12. CyberArk Software has a 52 week low of $154.76 and a 52 week high of $308.63.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The firm had revenue of $224.71 million for the quarter, compared to analyst estimates of $219.06 million. During the same quarter in the previous year, the company posted ($0.58) EPS. The business’s revenue was up 27.8% on a year-over-year basis. On average, research analysts expect that CyberArk Software will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Future Financial Wealth Managment LLC purchased a new position in CyberArk Software in the first quarter valued at about $80,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of CyberArk Software in the 1st quarter valued at about $526,000. KRS Capital Management LLC boosted its stake in shares of CyberArk Software by 9.4% in the first quarter. KRS Capital Management LLC now owns 2,800 shares of the technology company’s stock worth $744,000 after buying an additional 240 shares during the last quarter. First Dallas Securities Inc. raised its position in CyberArk Software by 3.2% during the first quarter. First Dallas Securities Inc. now owns 1,600 shares of the technology company’s stock valued at $425,000 after acquiring an additional 50 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in CyberArk Software by 38.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,367 shares of the technology company’s stock worth $1,160,000 after purchasing an additional 1,219 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

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.