CyberArk Software (NASDAQ:CYBR) Given New $410.00 Price Target at Wells Fargo & Company

CyberArk Software (NASDAQ:CYBR) had its price objective raised by investment analysts at Wells Fargo & Company from $350.00 to $410.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 23.07% from the company’s current price.

A number of other equities research analysts have also recently commented on CYBR. Morgan Stanley reiterated an “equal weight” rating and set a $316.00 price target on shares of CyberArk Software in a report on Tuesday. Piper Sandler upped their price target on CyberArk Software from $300.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Mizuho increased their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus lifted their target price on shares of CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Barclays increased their price target on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus price target of $341.44.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $333.15 on Thursday. The business’s 50 day simple moving average is $310.09 and its two-hundred day simple moving average is $286.03. CyberArk Software has a 52-week low of $205.59 and a 52-week high of $336.84. The firm has a market cap of $14.52 billion, a P/E ratio of 1,233.93 and a beta of 1.13.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYBR. Farther Finance Advisors LLC grew its position in shares of CyberArk Software by 23.0% in the second quarter. Farther Finance Advisors LLC now owns 1,023 shares of the technology company’s stock valued at $276,000 after purchasing an additional 191 shares during the period. CIBC Asset Management Inc raised its holdings in shares of CyberArk Software by 6.4% during the 2nd quarter. CIBC Asset Management Inc now owns 3,814 shares of the technology company’s stock worth $1,043,000 after acquiring an additional 228 shares during the period. Foundations Investment Advisors LLC increased its position in CyberArk Software by 36.7% during the second quarter. Foundations Investment Advisors LLC now owns 2,746 shares of the technology company’s stock worth $751,000 after purchasing an additional 737 shares during the last quarter. TD Asset Management Inc grew its stake in shares of CyberArk Software by 3.9% in the 2nd quarter. TD Asset Management Inc now owns 14,466 shares of the technology company’s stock valued at $3,955,000 after buying an additional 541 shares during the period. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of CyberArk Software by 3.5% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 47,100 shares of the technology company’s stock valued at $12,878,000 after buying an additional 1,600 shares during the period. 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.