CyberArk Software (NASDAQ:CYBR) Price Target Raised to $390.00

CyberArk Software (NASDAQ:CYBR) had its price target increased by Morgan Stanley from $316.00 to $390.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on CYBR. Needham & Company LLC lifted their price objective on CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $415.00 price target on shares of CyberArk Software in a research report on Monday, January 27th. StockNews.com downgraded shares of CyberArk Software from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. KeyCorp lifted their target price on shares of CyberArk Software from $355.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Mizuho increased their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $401.67.

CyberArk Software Trading Down 0.2 %

Shares of CYBR stock opened at $413.31 on Friday. The company’s fifty day moving average price is $347.91 and its 200-day moving average price is $308.53. The stock has a market cap of $18.01 billion, a PE ratio of 1,530.83 and a beta of 1.15. CyberArk Software has a 12 month low of $223.09 and a 12 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 analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. On average, sell-side analysts forecast that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

A number of hedge funds have recently modified their holdings of the business. Jennison Associates LLC lifted its position in CyberArk Software by 32.3% during the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after purchasing an additional 391,900 shares in the last quarter. Groupama Asset Managment increased its position in CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after buying an additional 5,402 shares in the last quarter. First Trust Advisors LP lifted its position in shares of CyberArk Software by 2.3% during the 4th quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock valued at $313,084,000 after buying an additional 20,832 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of CyberArk Software by 8.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock valued at $292,651,000 after buying an additional 68,359 shares in the last quarter. Finally, Norges Bank bought a new position in shares of CyberArk Software during the 4th quarter valued at approximately $203,375,000. Institutional investors own 91.84% of the company’s stock.

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.