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

CyberArk Software (NASDAQ:CYBR - Free Report) had its target price lifted by Piper Sandler from $345.00 to $380.00 in a report released on Monday,Benzinga reports. Piper Sandler currently has an overweight rating on the technology company's stock.

A number of other analysts also recently commented on CYBR. Jefferies Financial Group boosted their price target on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. BTIG Research boosted their target price on CyberArk Software from $310.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Canaccord Genuity Group increased their price target on CyberArk Software from $310.00 to $330.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. UBS Group boosted their price objective on CyberArk Software from $340.00 to $360.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $335.00 target price on shares of CyberArk Software in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $346.52.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR traded up $6.45 during trading hours on Monday, hitting $345.92. The stock had a trading volume of 429,024 shares, compared to its average volume of 522,141. The stock's fifty day simple moving average is $313.09 and its 200 day simple moving average is $288.05. The firm has a market capitalization of $15.07 billion, a price-to-earnings ratio of 1,281.23 and a beta of 1.13. CyberArk Software has a 1-year low of $213.05 and a 1-year high of $348.24.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its 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 return on equity of 2.29% and a net margin of 1.38%. The firm had revenue of $240.10 million for the quarter, compared to analysts' expectations of $234.10 million. During the same period last year, the firm earned ($0.31) EPS. The firm's revenue was up 25.6% compared to the same quarter last year. As a group, research analysts anticipate that CyberArk Software will post -0.58 EPS for the current year.

Institutional Trading of CyberArk Software

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC grew its holdings in CyberArk Software by 0.8% during the third 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 last quarter. Groupama Asset Managment boosted its stake in CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company's stock worth $304,000 after buying an additional 5,402 shares in the last quarter. RGM Capital LLC increased its stake in 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 shares of CyberArk Software by 3.3% in the 3rd quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company's stock valued at $134,422,000 after purchasing an additional 14,927 shares during the period. Finally, Swedbank AB raised its stake in CyberArk Software by 11.1% during the third 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 in the last quarter. 91.84% of the stock is currently owned by hedge funds and other 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.