CyberArk Software (NASDAQ:CYBR) Price Target Raised to $425.00 at Wells Fargo & Company

CyberArk Software (NASDAQ:CYBR) had its target price upped by research analysts at Wells Fargo & Company from $410.00 to $425.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 13.18% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Barclays increased their price objective on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Needham & Company LLC raised their price target on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. KeyCorp upped their price objective on shares of CyberArk Software from $355.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Susquehanna increased their target price on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, UBS Group boosted their price target 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. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $363.56.

CyberArk Software Price Performance

CyberArk Software stock opened at $375.50 on Monday. The company has a market cap of $16.36 billion, a P/E ratio of 1,390.79 and a beta of 1.13. CyberArk Software has a fifty-two week low of $223.09 and a fifty-two week high of $375.86. The firm’s 50 day simple moving average is $332.21 and its 200-day simple moving average is $297.43.

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 the consensus estimate of $0.46 by $0.48. The firm had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.31) EPS. On average, analysts expect that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. HighTower Advisors LLC raised its position in shares of CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock worth $4,212,000 after acquiring an additional 2,062 shares during the last quarter. Sycomore Asset Management increased its position in CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock worth $15,973,000 after purchasing an additional 16,294 shares during the period. Groupama Asset Managment raised its holdings in 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 purchasing an additional 5,402 shares during the last quarter. Jennison Associates LLC lifted its position in CyberArk Software by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of CyberArk Software in the 3rd quarter valued at about $8,612,000. 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.