CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, DA Davidson Analyst Says

CyberArk Software (NASDAQ:CYBR - Get Free Report) had its price target increased by equities researchers at DA Davidson from $360.00 to $390.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. DA Davidson's price target points to a potential upside of 14.88% from the company's current price.

Other analysts have also recently issued research reports about the stock. StockNews.com raised shares of CyberArk Software from a "hold" rating to a "buy" rating in a research report on Monday, December 9th. Robert W. Baird raised their target price on CyberArk Software from $355.00 to $370.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 17th. Cantor Fitzgerald reissued an "overweight" rating and issued a $335.00 price target on shares of CyberArk Software in a research note on Thursday, November 14th. Mizuho raised their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $316.00 target price on shares of CyberArk Software in a research report on Tuesday. 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 presently has an average rating of "Moderate Buy" and a consensus price target of $345.22.

CyberArk Software Stock Performance

Shares of CYBR traded up $3.81 during mid-day trading on Friday, reaching $339.47. 379,422 shares of the company were exchanged, compared to its average volume of 568,711. The business has a 50 day simple moving average of $311.92 and a two-hundred day simple moving average of $286.97. The stock has a market capitalization of $14.79 billion, a PE ratio of 1,257.34 and a beta of 1.13. CyberArk Software has a 52 week low of $209.50 and a 52 week high of $348.02.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its quarterly 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. 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 analyst estimates of $234.10 million. During the same quarter last year, the business earned ($0.31) EPS. The company's revenue was up 25.6% compared to the same quarter last year. On average, analysts predict that CyberArk Software will post -0.58 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors have recently added to or reduced their stakes in CYBR. Jennison Associates LLC boosted its stake in CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company's stock worth $353,386,000 after purchasing an additional 9,570 shares during the period. Groupama Asset Managment boosted its position in shares of CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company's stock valued at $304,000 after acquiring an additional 5,402 shares during the period. RGM Capital LLC boosted its position in shares of CyberArk Software by 2.1% in the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company's stock valued at $222,599,000 after acquiring an additional 16,530 shares during the period. Whale Rock Capital Management LLC grew its stake in CyberArk Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company's stock valued at $134,422,000 after acquiring an additional 14,927 shares in the last quarter. Finally, Swedbank AB increased its holdings in 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 during the period. 91.84% of the stock is owned by hedge funds and other 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.