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

CyberArk Software (NASDAQ:CYBR) had its target price lifted by investment analysts at KeyCorp from $400.00 to $485.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target would indicate a potential upside of 19.74% from the company’s previous close.

A number of other analysts also recently issued reports on CYBR. Morgan Stanley lifted their price objective on CyberArk Software from $316.00 to $390.00 and gave the stock an “equal weight” rating in a research note on Friday. Truist Financial lifted their target price on CyberArk Software from $385.00 to $450.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a report on Tuesday. UBS Group lifted their target price on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada boosted their price objective on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $398.89.

CyberArk Software Stock Down 2.2 %

NASDAQ:CYBR traded down $9.28 on Friday, hitting $405.03. The stock had a trading volume of 329,463 shares, compared to its average volume of 540,706. CyberArk Software has a 52-week low of $223.09 and a 52-week high of $419.49. The stock has a market cap of $17.65 billion, a price-to-earnings ratio of 1,500.18 and a beta of 1.15. The business’s 50-day simple moving average is $346.11 and its two-hundred day simple moving average is $306.73.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. As a group, equities research analysts anticipate that CyberArk Software will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its position in CyberArk Software by 16.6% during the 3rd 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 in the last quarter. Groupama Asset Managment increased its holdings in shares of CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares during the period. Jennison Associates LLC increased its holdings in shares of CyberArk Software by 0.8% in the third 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 during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of CyberArk Software in the third quarter worth about $8,612,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of CyberArk Software in the third quarter worth about $82,485,000. 91.84% of the stock is owned by institutional investors and hedge funds.

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.