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

CyberArk Software (NASDAQ:CYBR) had its price objective hoisted by investment analysts at Piper Sandler from $380.00 to $440.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price indicates a potential upside of 15.69% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company increased their price objective on shares of CyberArk Software from $410.00 to $425.00 and gave the company an “overweight” rating in a report on Monday, January 27th. BTIG Research lifted their price target on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. KeyCorp upped their price objective on CyberArk Software from $355.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Susquehanna boosted their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group raised their price objective on shares of CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and an average price target of $371.89.

CyberArk Software Price Performance

Shares of CYBR stock opened at $380.34 on Thursday. The business has a 50 day simple moving average of $337.03 and a 200 day simple moving average of $301.09. The firm has a market capitalization of $16.57 billion, a price-to-earnings ratio of 1,408.72 and a beta of 1.15. CyberArk Software has a 12-month low of $223.09 and a 12-month high of $382.19.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned ($0.31) earnings per share. On average, equities analysts anticipate that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

A number of institutional investors have recently added to or reduced their stakes in CYBR. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of CyberArk Software during the 4th quarter valued at $25,000. Assetmark Inc. raised its stake in shares of CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after acquiring an additional 123 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in CyberArk Software in the 4th quarter worth approximately $39,000. Montag A & Associates Inc. boosted its position in CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after purchasing an additional 42 shares during the period. Finally, Brown Lisle Cummings Inc. bought a new stake in CyberArk Software during the fourth quarter worth approximately $50,000. 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.