CyberArk Software Ltd. (NASDAQ:CYBR) Receives $339.22 Consensus Price Target from Analysts

CyberArk Software Ltd. (NASDAQ:CYBR) has been assigned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and twenty-six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $346.52.

A number of research analysts have recently weighed in on CYBR shares. Oppenheimer raised their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on CyberArk Software from $350.00 to $410.00 and gave the stock an “overweight” rating in a research report on Thursday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $335.00 price target on shares of CyberArk Software in a research note on Thursday, November 14th. Truist Financial reissued a “buy” rating and issued a $350.00 price objective (up from $300.00) on shares of CyberArk Software in a research note on Thursday, November 14th. Finally, Scotiabank assumed coverage on CyberArk Software in a research report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 target price for the company.

CyberArk Software Price Performance

Shares of CYBR stock opened at $344.55 on Thursday. CyberArk Software has a fifty-two week low of $213.37 and a fifty-two week high of $348.29. The stock’s 50-day moving average is $315.48 and its two-hundred day moving average is $289.05. The firm has a market cap of $15.01 billion, a P/E ratio of 1,276.16 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 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 analysts’ expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.31) EPS. As a group, research analysts expect that CyberArk Software will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of CyberArk Software in the 3rd quarter valued at $82,485,000. Anomaly Capital Management LP bought a new stake in CyberArk Software in the second quarter valued at about $49,145,000. Clearbridge Investments LLC raised its position in CyberArk Software by 250.0% in the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after purchasing an additional 160,269 shares in the last quarter. Hood River Capital Management LLC lifted its stake in CyberArk Software by 59.2% during the second quarter. Hood River Capital Management LLC now owns 223,584 shares of the technology company’s stock worth $61,132,000 after purchasing an additional 83,172 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in CyberArk Software by 89.2% during the second quarter. Point72 Asset Management L.P. now owns 167,305 shares of the technology company’s stock valued at $45,745,000 after purchasing an additional 78,887 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

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.