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

CyberArk Software (NASDAQ:CYBR) had its price target upped by analysts at Citigroup from $410.00 to $450.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 27.03% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $480.00 price target on shares of CyberArk Software in a research report on Wednesday, February 26th. Susquehanna boosted their price target on CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Scotiabank increased their price objective on CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their target price on shares of CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Guggenheim reiterated a “buy” rating and set a $455.00 target price on shares of CyberArk Software in a research report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $418.15.

CyberArk Software Stock Up 0.2 %

CYBR stock opened at $354.26 on Monday. CyberArk Software has a twelve month low of $223.41 and a twelve month high of $421.00. The company has a market cap of $15.44 billion, a PE ratio of -181.67 and a beta of 1.15. The business’s 50-day simple moving average is $362.77 and its 200 day simple moving average is $318.44.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. On average, equities research analysts anticipate that CyberArk Software will post -0.47 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors and hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in CyberArk Software during the fourth quarter worth about $25,000. TD Private Client Wealth LLC lifted its holdings in CyberArk Software by 79.1% during the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after acquiring an additional 34 shares in the last quarter. Plato Investment Management Ltd acquired a new position in CyberArk Software in the fourth quarter valued at about $39,000. Graney & King LLC bought a new stake in shares of CyberArk Software in the fourth quarter worth about $43,000. Finally, Montag A & Associates Inc. raised its position in shares of CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after purchasing an additional 42 shares during the period. 91.84% of the stock is owned by institutional investors.

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.