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

CyberArk Software (NASDAQ:CYBR) had its target price boosted by stock analysts at KeyCorp from $355.00 to $400.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price indicates a potential upside of 11.54% from the stock’s previous close.

CYBR has been the subject of a number of other research reports. Cantor Fitzgerald restated an “overweight” rating and set a $335.00 price objective on shares of CyberArk Software in a research report on Thursday, November 14th. BTIG Research upped their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Morgan Stanley reiterated an “equal weight” rating and issued a $316.00 price target on shares of CyberArk Software in a report on Tuesday, December 31st. Finally, Royal Bank of Canada increased their price target on shares of CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $358.74.

CyberArk Software Price Performance

CYBR stock opened at $358.63 on Tuesday. The company has a fifty day moving average price of $326.34 and a 200 day moving average price of $294.20. CyberArk Software has a 12 month low of $223.09 and a 12 month high of $364.18. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 1,328.31 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating 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 the consensus estimate of $234.10 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. CyberArk Software’s revenue for the quarter was up 25.6% on a year-over-year basis. As a group, analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Coldstream Capital Management Inc. raised its stake in shares of CyberArk Software by 3.5% during the third quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after purchasing an additional 42 shares during the period. Greenleaf Trust raised its stake in shares of CyberArk Software by 2.5% during the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after purchasing an additional 45 shares during the period. Signaturefd LLC raised its stake in shares of CyberArk Software by 4.2% during the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after purchasing an additional 49 shares during the period. Austin Private Wealth LLC raised its stake in shares of CyberArk Software by 6.8% during the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after purchasing an additional 52 shares during the period. Finally, Juncture Wealth Strategies LLC raised its stake in shares of CyberArk Software by 2.1% during the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock valued at $825,000 after purchasing an additional 57 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.