Royal Bank of Canada Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price target upped by Royal Bank of Canada from $385.00 to $410.00 in a research note issued to investors on Tuesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also weighed in on CYBR. JMP Securities reaffirmed a “market outperform” rating and set a $360.00 price objective on shares of CyberArk Software in a research report on Tuesday, January 14th. Piper Sandler increased their price objective on shares of CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Robert W. Baird lifted their target price on shares of CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. JPMorgan Chase & Co. increased their price target on shares of CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, UBS Group boosted their price objective 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. One analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $358.74.

CyberArk Software Trading Up 0.1 %

CYBR opened at $358.93 on Tuesday. The company has a market cap of $15.64 billion, a price-to-earnings ratio of 1,329.42 and a beta of 1.13. The stock has a fifty day simple moving average of $327.68 and a two-hundred day simple moving average of $294.66. CyberArk Software has a 12-month low of $223.09 and a 12-month high of $364.18.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Austin Private Wealth LLC boosted its stake in CyberArk Software by 22.3% in the 4th quarter. Austin Private Wealth LLC now owns 997 shares of the technology company’s stock worth $332,000 after purchasing an additional 182 shares during the period. Alta Wealth Advisors LLC bought a new stake in shares of CyberArk Software in the fourth quarter worth about $507,000. Swedbank AB lifted its position in shares of CyberArk Software by 19.0% in the fourth quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock worth $181,600,000 after buying an additional 87,201 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in CyberArk Software by 22.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 87,798 shares of the technology company’s stock valued at $29,250,000 after buying an additional 15,885 shares during the last quarter. Finally, Foundations Investment Advisors LLC grew its holdings in CyberArk Software by 6.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 2,906 shares of the technology company’s stock valued at $968,000 after buying an additional 175 shares in the last quarter. 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.