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

CyberArk Software (NASDAQ:CYBR) had its price target increased by stock analysts at Oppenheimer from $360.00 to $420.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s target price suggests a potential upside of 11.41% from the stock’s current price.

CYBR has been the subject of several other research reports. DA Davidson lifted their price objective on CyberArk Software from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price objective on CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. KeyCorp increased their price target on CyberArk Software from $355.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. StockNews.com upgraded shares of CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Finally, Robert W. Baird raised their price objective on CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, CyberArk Software currently has an average rating of “Moderate Buy” and an average price target of $369.67.

CyberArk Software Stock Up 0.2 %

CyberArk Software stock traded up $0.79 during trading hours on Wednesday, hitting $377.00. The stock had a trading volume of 87,259 shares, compared to its average volume of 454,494. CyberArk Software has a 12-month low of $223.09 and a 12-month high of $379.00. The stock has a market capitalization of $16.43 billion, a P/E ratio of 1,398.20 and a beta of 1.15. The stock’s 50-day moving average price is $337.03 and its 200-day moving average price is $301.09.

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

Hedge Funds Weigh In On CyberArk Software

Hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of CyberArk Software in the 4th quarter worth $25,000. Assetmark Inc. grew its stake in CyberArk Software by 1,025.0% in the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after purchasing an additional 123 shares during the last quarter. Montag A & Associates Inc. lifted its position in shares of CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after buying an additional 42 shares during the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of CyberArk Software in the 4th quarter valued at about $50,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of CyberArk Software in the 3rd quarter worth approximately $51,000. 91.84% of the stock is currently owned by 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.