CyberArk Software (NASDAQ:CYBR) Given New $380.00 Price Target at Piper Sandler

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by analysts at Piper Sandler from $345.00 to $380.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target suggests a potential upside of 10.69% from the company’s previous close.

Several other brokerages also recently weighed in on CYBR. JMP Securities lifted their target price on CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. lifted their price objective on shares of CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Scotiabank began coverage on shares of CyberArk Software in a research report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 target price for the company. Wedbush boosted their price target on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Barclays increased their price objective on shares of CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $346.52.

CyberArk Software Stock Performance

Shares of CyberArk Software stock traded up $3.82 during trading on Monday, hitting $343.29. 113,311 shares of the stock were exchanged, compared to its average volume of 409,892. CyberArk Software has a 12 month low of $213.05 and a 12 month high of $348.24. The stock’s fifty day moving average is $311.92 and its 200 day moving average is $287.20. The stock has a market cap of $14.96 billion, a PE ratio of 1,271.49 and a beta of 1.13.

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

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its position in CyberArk Software by 7.9% in the 4th quarter. Nordea Investment Management AB now owns 3,024 shares of the technology company’s stock worth $993,000 after buying an additional 221 shares during the period. Central Pacific Bank Trust Division bought a new position in CyberArk Software during the fourth quarter worth $860,000. Oddo BHF Asset Management Sas acquired a new position in CyberArk Software during the 3rd quarter valued at $1,135,000. Wilmington Savings Fund Society FSB bought a new stake in CyberArk Software in the 3rd quarter valued at $144,000. Finally, TT International Asset Management LTD acquired a new stake in CyberArk Software in the 3rd quarter worth $3,224,000. 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.