CyberArk Software (NASDAQ:CYBR) Price Target Raised to $410.00 at Needham & Company LLC

CyberArk Software (NASDAQ:CYBR - Get Free Report) had its target price upped by equities researchers at Needham & Company LLC from $360.00 to $410.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Needham & Company LLC's target price would suggest a potential upside of 19.00% from the stock's current price.

Several other equities analysts also recently weighed in on the company. Barclays increased their target price on CyberArk Software from $330.00 to $335.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Oppenheimer increased their price target on CyberArk Software from $310.00 to $360.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. KeyCorp boosted their target price on shares of CyberArk Software from $340.00 to $355.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Piper Sandler boosted their price target on CyberArk Software from $345.00 to $380.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Royal Bank of Canada upped their target price on CyberArk Software from $358.00 to $385.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. One analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, CyberArk Software currently has a consensus rating of "Moderate Buy" and an average price target of $350.22.

CyberArk Software Stock Up 0.2 %

NASDAQ:CYBR traded up $0.65 during mid-day trading on Thursday, reaching $344.55. 337,554 shares of the stock were exchanged, compared to its average volume of 463,945. The company has a 50 day simple moving average of $316.84 and a 200-day simple moving average of $289.43. The stock has a market capitalization of $15.01 billion, a P/E ratio of 1,276.16 and a beta of 1.13. CyberArk Software has a 1 year low of $213.37 and a 1 year high of $348.29.

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

Hedge Funds Weigh In On CyberArk Software

Institutional investors have recently modified their holdings of the company. Ensign Peak Advisors Inc bought a new stake in CyberArk Software in the 2nd quarter valued at about $711,000. HighTower Advisors LLC raised its holdings in shares of CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company's stock valued at $4,212,000 after buying an additional 2,062 shares during the last quarter. Sycomore Asset Management boosted its position in shares of CyberArk Software by 36.6% during the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company's stock worth $15,973,000 after buying an additional 16,294 shares during the period. Groupama Asset Managment grew its holdings in CyberArk Software by 0.5% in the 3rd 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. Finally, Jennison Associates LLC increased its position 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 valued at $353,386,000 after acquiring an additional 9,570 shares during the period. Institutional investors 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.