JPMorgan Chase & Co. Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $375.00 to $431.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.16% from the company’s current price.

A number of other research firms have also weighed in on CYBR. Mizuho lifted their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. UBS Group lifted their target price on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, November 14th. DA Davidson boosted their price target on shares of CyberArk Software from $360.00 to $390.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Truist Financial raised their price objective on shares of CyberArk Software from $350.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, StockNews.com cut CyberArk Software from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $373.96.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $380.86 on Tuesday. CyberArk Software has a one year low of $223.09 and a one year high of $394.31. The company has a 50-day simple moving average of $343.36 and a 200-day simple moving average of $305.45. The stock has a market capitalization of $16.59 billion, a price-to-earnings ratio of 1,410.64 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. The company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period last year, the firm earned ($0.31) EPS. As a group, research analysts forecast that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Large investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of CyberArk Software in the fourth quarter worth $25,000. TD Private Client Wealth LLC increased its position in 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 in the last quarter. Assetmark Inc. raised its stake in CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after purchasing an additional 123 shares during the last quarter. Plato Investment Management Ltd purchased a new position in CyberArk Software in the 4th quarter valued at about $39,000. Finally, Graney & King LLC acquired a new stake in shares of CyberArk Software during the 4th quarter worth about $43,000. Institutional investors and hedge funds 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.