CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Robert W. Baird Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price target lifted by Robert W. Baird from $355.00 to $370.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other brokerages have also weighed in on CYBR. Scotiabank started coverage on shares of CyberArk Software in a research report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com upgraded shares of CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. BTIG Research increased their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, UBS Group raised their price objective on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One investment 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, the company has an average rating of “Moderate Buy” and an average price target of $335.11.

CyberArk Software Stock Down 0.4 %

Shares of NASDAQ:CYBR opened at $317.82 on Tuesday. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 1,177.11 and a beta of 1.13. CyberArk Software has a fifty-two week low of $205.59 and a fifty-two week high of $333.32. The firm’s 50-day simple moving average is $304.41 and its 200-day simple moving average is $280.31.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. During the same quarter last year, the company earned ($0.31) earnings per share. CyberArk Software’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, research analysts forecast that CyberArk Software will post -0.58 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors have recently added to or reduced their stakes in CYBR. Wealth Enhancement Advisory Services LLC lifted its stake in shares of CyberArk Software by 11.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,202 shares of the technology company’s stock valued at $602,000 after purchasing an additional 223 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of CyberArk Software by 13.1% during the second quarter. Assenagon Asset Management S.A. now owns 1,682 shares of the technology company’s stock worth $460,000 after purchasing an additional 195 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of CyberArk Software during the second quarter worth about $39,000. Geneos Wealth Management Inc. boosted its position in shares of CyberArk Software by 30.5% in the second quarter. Geneos Wealth Management Inc. now owns 9,588 shares of the technology company’s stock worth $2,622,000 after buying an additional 2,243 shares during the period. Finally, DT Investment Partners LLC acquired a new stake in shares of CyberArk Software in the second quarter valued at about $78,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

About CyberArk Software

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.