CyberArk Software (NASDAQ:CYBR) Price Target Raised to $410.00

CyberArk Software (NASDAQ:CYBR - Get Free Report) had its target price increased by stock analysts at Citigroup from $355.00 to $410.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Citigroup's price objective indicates a potential upside of 16.40% from the company's current price.

CYBR has been the subject of several other reports. Royal Bank of Canada raised their target price on CyberArk Software from $358.00 to $385.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Robert W. Baird lifted their price objective on CyberArk Software from $355.00 to $370.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. Wedbush lifted their price objective on CyberArk Software from $300.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Cantor Fitzgerald reissued an "overweight" rating and issued a $335.00 price objective on shares of CyberArk Software in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. lifted their price objective on CyberArk Software from $355.00 to $375.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $353.93.

CyberArk Software Price Performance

Shares of NASDAQ CYBR traded down $3.29 during mid-day trading on Friday, hitting $352.22. 534,277 shares of the stock traded hands, compared to its average volume of 364,359. The company has a market cap of $15.35 billion, a PE ratio of 1,304.57 and a beta of 1.13. CyberArk Software has a twelve month low of $223.09 and a twelve month high of $363.00. The firm has a 50 day simple moving average of $324.09 and a two-hundred day simple moving average of $292.91.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.48. The business had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. CyberArk Software's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period last year, the company earned ($0.31) EPS. On average, equities research analysts anticipate that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors have recently modified their holdings of CYBR. DekaBank Deutsche Girozentrale grew its holdings in shares of CyberArk Software by 10.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,444 shares of the technology company's stock valued at $657,000 after acquiring an additional 229 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in CyberArk Software by 506.7% during the second quarter. Dimensional Fund Advisors LP now owns 6,565 shares of the technology company's stock valued at $1,795,000 after purchasing an additional 5,483 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in CyberArk Software by 16.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 2,868 shares of the technology company's stock valued at $783,000 after purchasing an additional 399 shares during the period. Sei Investments Co. grew its holdings in CyberArk Software by 6.1% during the second quarter. Sei Investments Co. now owns 105,583 shares of the technology company's stock valued at $28,868,000 after purchasing an additional 6,113 shares during the period. Finally, Ensign Peak Advisors Inc bought a new position in CyberArk Software during the second quarter valued at $711,000. 91.84% of the stock is owned by institutional investors.

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.