JMP Securities Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its target price boosted by JMP Securities from $390.00 to $480.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the technology company’s stock. JMP Securities’ target price suggests a potential upside of 17.25% from the company’s previous close.

CYBR has been the topic of several other reports. Barclays raised their price objective on CyberArk Software from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday. StockNews.com lowered CyberArk Software from a “buy” rating to a “hold” rating in a report on Monday. Cantor Fitzgerald reissued an “overweight” rating and issued a $415.00 price objective on shares of CyberArk Software in a research report on Monday, January 27th. Needham & Company LLC boosted their target price on shares of CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. Finally, Piper Sandler raised their price target on shares of CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $390.59.

CyberArk Software Stock Down 1.2 %

CyberArk Software stock traded down $4.93 during trading hours on Friday, reaching $409.39. 180,451 shares of the company’s stock were exchanged, compared to its average volume of 535,603. The firm has a market capitalization of $17.84 billion, a PE ratio of 1,516.29 and a beta of 1.15. The firm’s 50 day simple moving average is $344.38 and its 200 day simple moving average is $305.97. CyberArk Software has a twelve month low of $223.09 and a twelve month high of $419.49.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. Analysts anticipate that CyberArk Software will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CYBR. Hsbc Holdings PLC increased its holdings in shares of CyberArk Software by 15.3% in the 4th quarter. Hsbc Holdings PLC now owns 13,252 shares of the technology company’s stock worth $4,412,000 after buying an additional 1,761 shares during the last quarter. Stifel Financial Corp lifted its position in CyberArk Software by 18.5% in the fourth quarter. Stifel Financial Corp now owns 65,769 shares of the technology company’s stock worth $21,911,000 after buying an additional 10,262 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in CyberArk Software during the fourth quarter worth $152,000. Mirova boosted its stake in shares of CyberArk Software by 3.3% during the 4th quarter. Mirova now owns 8,739 shares of the technology company’s stock worth $2,911,000 after purchasing an additional 279 shares during the period. Finally, MML Investors Services LLC lifted its stake in CyberArk Software by 16.2% in the fourth quarter. MML Investors Services LLC now owns 9,688 shares of the technology company’s stock worth $3,228,000 after purchasing an additional 1,349 shares during the last quarter. 91.84% of the stock is currently 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.