Citigroup Boosts CyberArk Software (NASDAQ:CYBR) Price Target to $410.00

CyberArk Software (NASDAQ:CYBR) had its price objective hoisted by research analysts at Citigroup from $355.00 to $410.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s price objective would indicate a potential upside of 14.92% from the stock’s current price.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Needham & Company LLC boosted their target price on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Stifel Nicolaus lifted their price target on shares of CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Oppenheimer boosted their price target on CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group upped their target price on CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $353.93.

CyberArk Software Stock Performance

CYBR stock traded up $1.26 during mid-day trading on Friday, reaching $356.77. 313,921 shares of the stock traded hands, compared to its average volume of 485,688. The business has a 50-day moving average price of $322.94 and a two-hundred day moving average price of $292.18. The stock has a market capitalization of $15.54 billion, a PE ratio of 1,325.67 and a beta of 1.13. CyberArk Software has a one year low of $223.09 and a one year high of $363.00.

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, topping analysts’ consensus estimates of $0.46 by $0.48. The firm had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. CyberArk Software’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the company earned ($0.31) EPS. On average, equities analysts expect that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

A number of institutional investors have recently made changes to their positions in CYBR. International Assets Investment Management LLC acquired a new position in CyberArk Software during the third quarter worth about $82,485,000. Anomaly Capital Management LP acquired a new position in CyberArk Software in the 2nd quarter valued at about $49,145,000. Clearbridge Investments LLC grew its stake in shares of CyberArk Software by 250.0% in the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock valued at $61,350,000 after buying an additional 160,269 shares during the period. Hood River Capital Management LLC increased its holdings in shares of CyberArk Software by 59.2% during the 2nd quarter. Hood River Capital Management LLC now owns 223,584 shares of the technology company’s stock worth $61,132,000 after buying an additional 83,172 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of CyberArk Software by 97.5% during the 4th quarter. SG Americas Securities LLC now owns 167,759 shares of the technology company’s stock worth $55,889,000 after buying an additional 82,812 shares during the last quarter. 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.