Scotiabank Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price hoisted by research analysts at Scotiabank from $340.00 to $400.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s target price would suggest a potential upside of 13.12% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Piper Sandler upped their price target on shares of CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wedbush lifted their price objective on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Morgan Stanley reissued an “equal weight” rating and set a $316.00 price objective on shares of CyberArk Software in a research report on Tuesday, December 31st. StockNews.com upgraded CyberArk Software from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their target price on CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $358.74.

CyberArk Software Trading Up 0.4 %

Shares of NASDAQ CYBR traded up $1.40 during mid-day trading on Tuesday, reaching $353.62. 274,694 shares of the company’s stock were exchanged, compared to its average volume of 486,889. CyberArk Software has a twelve month low of $223.09 and a twelve month high of $363.00. The business has a fifty day simple moving average of $325.25 and a 200 day simple moving average of $293.63. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 1,311.90 and a beta of 1.13.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in CyberArk Software in the 4th quarter valued at $25,000. Assetmark Inc. boosted its position in CyberArk Software by 1,025.0% during the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after acquiring an additional 123 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in CyberArk Software during the 3rd quarter valued at about $51,000. Kieckhefer Group LLC acquired a new stake in CyberArk Software in the 4th quarter valued at about $67,000. Finally, Future Financial Wealth Managment LLC purchased a new position in CyberArk Software in the 3rd quarter worth approximately $87,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.