CyberArk Software (NASDAQ:CYBR) Price Target Raised to $450.00 at Truist Financial

CyberArk Software (NASDAQ:CYBR - Get Free Report) had its target price raised by research analysts at Truist Financial from $385.00 to $450.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Truist Financial's price target indicates a potential upside of 9.82% from the company's previous close.

Several other equities research analysts have also recently commented on the stock. Needham & Company LLC boosted their price objective on shares of CyberArk Software from $360.00 to $410.00 and gave the company a "buy" rating in a research report on Thursday, January 9th. Barclays increased their price objective on CyberArk Software from $375.00 to $450.00 and gave the stock an "overweight" rating in a report on Friday. Wells Fargo & Company upped their price target on CyberArk Software from $410.00 to $425.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. JMP Securities boosted their price objective on shares of CyberArk Software from $390.00 to $480.00 and gave the stock a "market outperform" rating in a research report on Friday. Finally, Robert W. Baird boosted their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $401.67.

CyberArk Software Stock Performance

CYBR stock traded down $3.55 during midday trading on Friday, hitting $409.76. 840,576 shares of the company's stock were exchanged, compared to its average volume of 572,654. CyberArk Software has a one year low of $223.09 and a one year high of $421.00. The stock's fifty day moving average price is $349.78 and its 200-day moving average price is $309.64. The company has a market cap of $17.85 billion, a PE ratio of 1,517.69 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. On average, analysts expect that CyberArk Software will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC raised its stake in CyberArk Software by 32.3% during the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company's stock worth $534,287,000 after buying an additional 391,900 shares during the last quarter. Thoma Bravo L.P. acquired a new stake in shares of CyberArk Software during the 4th quarter worth approximately $380,637,000. Groupama Asset Managment increased its stake in shares of CyberArk Software by 0.5% in the 3rd 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 in the last quarter. First Trust Advisors LP lifted its position in shares of CyberArk Software by 2.3% during the 4th quarter. First Trust Advisors LP now owns 939,768 shares of the technology company's stock valued at $313,084,000 after acquiring an additional 20,832 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in CyberArk Software by 8.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company's stock worth $292,651,000 after acquiring an additional 68,359 shares in the last quarter. 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.