DA Davidson Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by investment analysts at DA Davidson from $415.00 to $435.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. DA Davidson’s price target indicates a potential upside of 22.62% from the stock’s current price.

CYBR has been the subject of several other research reports. Rosenblatt Securities reissued a “buy” rating and set a $445.00 target price on shares of CyberArk Software in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $480.00 target price on shares of CyberArk Software in a report on Thursday, March 20th. Piper Sandler raised their target price on shares of CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Stephens started coverage on shares of CyberArk Software in a report on Tuesday, April 1st. They set an “overweight” rating and a $440.00 target price for the company. Finally, Barclays reissued an “overweight” rating on shares of CyberArk Software in a report on Tuesday. Two analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $415.71.

CyberArk Software Trading Down 1.8%

NASDAQ CYBR opened at $354.76 on Tuesday. The company has a fifty day simple moving average of $341.83 and a two-hundred day simple moving average of $339.56. The stock has a market cap of $17.53 billion, a P/E ratio of -181.93 and a beta of 0.99. CyberArk Software has a 12-month low of $223.41 and a 12-month high of $421.00.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. As a group, sell-side analysts forecast that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Trading of CyberArk Software

A number of institutional investors and hedge funds have recently modified their holdings of CYBR. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of CyberArk Software during the 4th quarter worth about $25,000. TD Private Client Wealth LLC raised its position in shares of CyberArk Software by 79.1% during the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after purchasing an additional 34 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of CyberArk Software by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company’s stock worth $26,000 after purchasing an additional 39 shares during the last quarter. Whipplewood Advisors LLC raised its position in shares of CyberArk Software by 135.3% during the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company’s stock worth $27,000 after purchasing an additional 46 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of CyberArk Software by 421.1% during the 1st quarter. Bessemer Group Inc. now owns 99 shares of the technology company’s stock worth $33,000 after purchasing an additional 80 shares during the last quarter. 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.