Oppenheimer Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price objective increased by Oppenheimer from $360.00 to $420.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other equities analysts also recently commented on the stock. Mizuho boosted their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. StockNews.com raised CyberArk Software from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Scotiabank boosted their price objective on CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Needham & Company LLC lifted their price target on CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Finally, Barclays upped their target price on shares of CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.67.

CyberArk Software Price Performance

NASDAQ CYBR opened at $380.34 on Wednesday. The company has a market cap of $16.57 billion, a P/E ratio of 1,408.72 and a beta of 1.15. The stock has a 50-day moving average of $337.03 and a two-hundred day moving average of $301.09. CyberArk Software has a 1-year low of $223.09 and a 1-year high of $382.19.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data 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. The firm had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.31) earnings per share. On average, analysts anticipate that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in CyberArk Software by 506.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,565 shares of the technology company’s stock valued at $1,795,000 after purchasing an additional 5,483 shares during the period. Cetera Investment Advisers lifted its holdings in shares of CyberArk Software by 2.5% in the 2nd quarter. Cetera Investment Advisers now owns 11,733 shares of the technology company’s stock valued at $3,208,000 after buying an additional 281 shares during the period. Diversified Trust Co lifted its holdings in shares of CyberArk Software by 3.1% in the 3rd quarter. Diversified Trust Co now owns 2,498 shares of the technology company’s stock valued at $728,000 after buying an additional 76 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of CyberArk Software in the 3rd quarter valued at approximately $87,000. Finally, Juncture Wealth Strategies LLC lifted its holdings in CyberArk Software by 2.1% in the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock valued at $825,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds 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.