CyberArk Software (NASDAQ:CYBR) PT Raised to $355.00 at Robert W. Baird

CyberArk Software (NASDAQ:CYBR) had its target price raised by analysts at Robert W. Baird from $315.00 to $355.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target suggests a potential upside of 22.40% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Scotiabank initiated coverage on shares of CyberArk Software in a report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price objective on the stock. Susquehanna boosted their price target on CyberArk Software from $310.00 to $320.00 and gave the company a “positive” rating in a research note on Friday, August 9th. Needham & Company LLC restated a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a research note on Friday, August 9th. DA Davidson lifted their target price on CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of CyberArk Software in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $306.58.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR opened at $290.04 on Thursday. The business’s 50-day moving average is $282.18 and its 200 day moving average is $262.30. CyberArk Software has a 1 year low of $154.76 and a 1 year high of $308.63. The firm has a market capitalization of $12.26 billion, a P/E ratio of -453.19 and a beta of 1.12.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.14. The firm had revenue of $224.71 million for the quarter, compared to the consensus estimate of $219.06 million. CyberArk Software had a negative net margin of 1.53% and a negative return on equity of 0.21%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.58) earnings per share. On average, analysts expect that CyberArk Software will post -1.06 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its position in shares of CyberArk Software by 64.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,345 shares of the technology company’s stock worth $1,951,000 after purchasing an additional 2,885 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of CyberArk Software by 58.3% during the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after acquiring an additional 12,242 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of CyberArk Software in the first quarter valued at approximately $2,741,000. Price T Rowe Associates Inc. MD boosted its stake in shares of CyberArk Software by 715.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock worth $14,946,000 after acquiring an additional 49,360 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of CyberArk Software in the second quarter worth approximately $711,000. 91.84% of the stock is currently 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.