CyberArk Software (NASDAQ:CYBR) Price Target Raised to $375.00

CyberArk Software (NASDAQ:CYBR) had its price target raised by JPMorgan Chase & Co. from $355.00 to $375.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 19.67% from the company’s current price.

CYBR has been the subject of several other research reports. UBS Group boosted their target price on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Scotiabank started coverage on shares of CyberArk Software in a research report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective for the company. BTIG Research upped their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company lifted their target price on shares of CyberArk Software from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada raised their price objective on CyberArk Software from $328.00 to $358.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and an average price target of $334.56.

CyberArk Software Trading Down 2.5 %

NASDAQ:CYBR opened at $313.36 on Monday. CyberArk Software has a twelve month low of $198.01 and a twelve month high of $333.32. The company has a market capitalization of $13.65 billion, a P/E ratio of 1,160.64 and a beta of 1.13. The firm has a 50-day moving average price of $302.84 and a two-hundred day moving average price of $278.70.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data 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 return on equity of 2.29% and a net margin of 1.38%. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. During the same period in the previous year, the firm posted ($0.31) EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, equities research analysts predict that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds have recently modified their holdings of the stock. Jennison Associates LLC grew its holdings in CyberArk Software by 0.8% during the 3rd 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 in the last quarter. Groupama Asset Managment grew its stake in shares of CyberArk Software by 0.5% during 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 in the last quarter. RGM Capital LLC increased its position in shares of CyberArk Software by 2.1% during the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock worth $222,599,000 after acquiring an additional 16,530 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in shares of CyberArk Software by 3.3% in the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after acquiring an additional 14,927 shares in the last quarter. Finally, Swedbank AB boosted its holdings in CyberArk Software by 11.1% in the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after purchasing an additional 45,799 shares during 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.