CyberArk Software (NASDAQ:CYBR) Price Target Raised to $500.00

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by Wells Fargo & Company from $425.00 to $500.00 in a report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

CYBR has been the subject of several other reports. Rosenblatt Securities increased their price objective on CyberArk Software from $415.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday. Susquehanna raised their price target on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Mizuho increased their price objective on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Piper Sandler increased their price objective on CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Canaccord Genuity Group increased their price objective on CyberArk Software from $330.00 to $440.00 and gave the company a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average price target of $401.67.

CyberArk Software Price Performance

Shares of CyberArk Software stock opened at $413.31 on Friday. The business has a 50 day simple moving average of $347.91 and a two-hundred day simple moving average of $308.53. CyberArk Software has a 12 month low of $223.09 and a 12 month high of $419.49. The stock has a market capitalization of $18.01 billion, a P/E ratio of 1,530.83 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. As a group, research analysts anticipate that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of CyberArk Software during the fourth quarter valued at approximately $203,375,000. Nepsis Inc. increased its stake in shares of CyberArk Software by 882.4% during the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock valued at $187,339,000 after acquiring an additional 505,088 shares during the period. Jennison Associates LLC grew its position in CyberArk Software by 32.3% in the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after buying an additional 391,900 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in CyberArk Software by 195.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock worth $170,614,000 after buying an additional 336,462 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in CyberArk Software in the third quarter worth approximately $82,485,000. Institutional investors and hedge funds 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.