CyberArk Software (NASDAQ:CYBR) Price Target Raised to $440.00 at Piper Sandler

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by Piper Sandler from $380.00 to $440.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

CYBR has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Barclays upped their price objective on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Robert W. Baird upped their price objective on CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $415.00 target price on shares of CyberArk Software in a research report on Monday, January 27th. Finally, Canaccord Genuity Group lifted their price target on CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $371.89.

CyberArk Software Stock Performance

CYBR opened at $382.81 on Thursday. The firm has a market cap of $16.68 billion, a P/E ratio of 1,417.87 and a beta of 1.15. CyberArk Software has a 52-week low of $223.09 and a 52-week high of $383.17. The business’s fifty day moving average is $338.27 and its 200-day moving average is $301.64.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CYBR. Dimensional Fund Advisors LP raised its stake in CyberArk Software by 506.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,565 shares of the technology company’s stock worth $1,795,000 after buying an additional 5,483 shares during the period. Cetera Investment Advisers raised its stake in CyberArk Software by 2.5% during the 2nd quarter. Cetera Investment Advisers now owns 11,733 shares of the technology company’s stock worth $3,208,000 after buying an additional 281 shares during the period. Diversified Trust Co raised its stake in CyberArk Software by 3.1% during the 3rd quarter. Diversified Trust Co now owns 2,498 shares of the technology company’s stock worth $728,000 after buying an additional 76 shares during the period. Future Financial Wealth Managment LLC acquired a new position in CyberArk Software during the 3rd quarter worth approximately $87,000. Finally, Juncture Wealth Strategies LLC raised its stake 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 buying an additional 57 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

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.