Piper Sandler Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by investment analysts at Piper Sandler from $380.00 to $440.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target would indicate a potential upside of 14.50% from the company’s previous close.

CYBR has been the subject of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating and set a $415.00 target price on shares of CyberArk Software in a research report on Monday, January 27th. UBS Group increased their price objective on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Susquehanna boosted their target price on CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and set a $360.00 price target on shares of CyberArk Software in a research note on Tuesday, January 14th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $316.00 price objective on shares of CyberArk Software in a report on Tuesday, December 31st. One equities research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $371.89.

CyberArk Software Trading Up 0.4 %

Shares of CYBR opened at $384.29 on Thursday. The stock has a 50 day moving average of $339.55 and a 200 day moving average of $302.21. The company has a market capitalization of $16.74 billion, a price-to-earnings ratio of 1,423.35 and a beta of 1.15. CyberArk Software has a 12 month low of $223.09 and a 12 month high of $391.45.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.31) EPS. As a group, equities research analysts predict that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Trading of CyberArk Software

Institutional investors and hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in CyberArk Software in the fourth quarter valued at $25,000. Assetmark Inc. boosted its holdings in shares of CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after purchasing an additional 123 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of CyberArk Software during the 4th quarter valued at about $39,000. Montag A & Associates Inc. raised its holdings in shares of CyberArk Software by 47.2% during the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after buying an additional 42 shares in the last quarter. Finally, Brown Lisle Cummings Inc. bought a new stake in CyberArk Software in the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors 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.