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

CyberArk Software (NASDAQ:CYBR - Get Free Report) had its price objective increased by research analysts at Scotiabank from $340.00 to $400.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the technology company's stock. Scotiabank's price target would suggest a potential upside of 12.49% from the company's previous close.

Several other research firms have also commented on CYBR. Royal Bank of Canada raised their price target on CyberArk Software from $385.00 to $410.00 and gave the stock an "outperform" rating in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on CyberArk Software from $355.00 to $375.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Needham & Company LLC increased their price target on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a "buy" rating in a research report on Thursday, January 9th. Susquehanna raised their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the company a "positive" rating in a research note on Thursday, November 14th. Finally, Barclays upped their target price on shares of CyberArk Software from $330.00 to $335.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company's stock. According to MarketBeat.com, CyberArk Software currently has a consensus rating of "Moderate Buy" and an average price target of $358.74.

CyberArk Software Stock Up 1.0 %

CYBR traded up $3.36 during trading on Tuesday, reaching $355.58. The company's stock had a trading volume of 501,594 shares, compared to its average volume of 506,933. CyberArk Software has a 1 year low of $223.09 and a 1 year high of $363.00. The company has a market cap of $15.49 billion, a price-to-earnings ratio of 1,317.01 and a beta of 1.13. The firm has a fifty day simple moving average of $325.25 and a two-hundred day simple moving average of $293.63.

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

Hedge Funds Weigh In On CyberArk Software

Institutional investors have recently modified their holdings of the business. Nepsis Inc. boosted its position in CyberArk Software by 882.4% during the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company's stock worth $187,339,000 after purchasing an additional 505,088 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of CyberArk Software during the 3rd quarter worth $82,485,000. Clearbridge Investments LLC grew its stake in CyberArk Software by 250.0% in the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company's stock valued at $61,350,000 after acquiring an additional 160,269 shares during the last quarter. SG Americas Securities LLC increased its holdings in CyberArk Software by 97.5% during the 4th quarter. SG Americas Securities LLC now owns 167,759 shares of the technology company's stock valued at $55,889,000 after acquiring an additional 82,812 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in CyberArk Software by 89.2% during the second quarter. Point72 Asset Management L.P. now owns 167,305 shares of the technology company's stock worth $45,745,000 after acquiring an additional 78,887 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

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.