CyberArk Software (NASDAQ:CYBR) Price Target Raised to $410.00 at Royal Bank of Canada

CyberArk Software (NASDAQ:CYBR) had its price target boosted by stock analysts at Royal Bank of Canada from $385.00 to $410.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 14.32% from the stock’s current price.

CYBR has been the subject of several other reports. UBS Group upped their price target on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. BTIG Research upped their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup upped their price target on shares of CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Wedbush upped their price target on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Robert W. Baird upped their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. 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.com, CyberArk Software presently has an average rating of “Moderate Buy” and an average price target of $358.74.

CyberArk Software Stock Up 0.9 %

CYBR opened at $358.63 on Tuesday. The stock has a market cap of $15.63 billion, a PE ratio of 1,328.31 and a beta of 1.13. CyberArk Software has a 52 week low of $223.09 and a 52 week high of $364.18. The business’s fifty day simple moving average is $326.34 and its 200 day simple moving average is $294.20.

CyberArk Software (NASDAQ:CYBR) last released its 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. The business had revenue of $240.10 million for 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 was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.31) earnings per share. As a group, equities analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds have recently modified their holdings of CYBR. Jennison Associates LLC raised its stake in shares of CyberArk Software by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares in the last quarter. Groupama Asset Managment raised its stake in shares of CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after acquiring an additional 5,402 shares in the last quarter. Nepsis Inc. raised its stake in shares of CyberArk Software by 882.4% during the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after acquiring an additional 505,088 shares in the last quarter. Whale Rock Capital Management LLC raised its stake in shares of CyberArk Software by 3.3% during the 3rd quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after acquiring an additional 14,927 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of CyberArk Software by 11.1% during the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after acquiring an additional 45,799 shares in 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.