DA Davidson Cuts CyberArk Software (NASDAQ:CYBR) Price Target to $275.00

CyberArk Software (NASDAQ:CYBR) had its price objective cut by DA Davidson from $300.00 to $275.00 in a report issued on Friday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other analysts also recently commented on the stock. Bank of America reissued a buy rating and set a $315.00 price objective on shares of CyberArk Software in a report on Wednesday, April 24th. Truist Financial upped their price target on shares of CyberArk Software from $250.00 to $300.00 and gave the company a buy rating in a report on Friday, February 9th. Oppenheimer raised their price objective on shares of CyberArk Software from $195.00 to $260.00 and gave the stock an outperform rating in a research note on Monday, January 8th. Wells Fargo & Company upped their target price on CyberArk Software from $250.00 to $275.00 and gave the company an overweight rating in a research note on Monday, January 29th. Finally, JMP Securities raised their price target on CyberArk Software from $195.00 to $280.00 and gave the stock a market outperform rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $265.63.

CyberArk Software Trading Down 2.7 %

NASDAQ CYBR opened at $227.32 on Friday. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of -355.19 and a beta of 1.06. The business’s 50 day moving average is $254.41 and its two-hundred day moving average is $226.67. CyberArk Software has a 12-month low of $125.15 and a 12-month high of $283.00.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.53. The firm had revenue of $223.10 million for the quarter, compared to analyst estimates of $209.65 million. CyberArk Software had a negative return on equity of 2.59% and a negative net margin of 3.20%. Equities analysts forecast that CyberArk Software will post -1.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently modified their holdings of CYBR. Jennison Associates LLC raised its stake in CyberArk Software by 81.4% during the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock valued at $230,871,000 after buying an additional 472,961 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in CyberArk Software by 15.4% during the third quarter. Polar Capital Holdings Plc now owns 594,809 shares of the technology company’s stock worth $97,412,000 after purchasing an additional 79,506 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in CyberArk Software by 2.1% in the third quarter. TimesSquare Capital Management LLC now owns 553,969 shares of the technology company’s stock worth $90,724,000 after purchasing an additional 11,387 shares during the period. Norges Bank acquired a new position in CyberArk Software in the fourth quarter worth $100,797,000. Finally, Nomura Holdings Inc. increased its stake in CyberArk Software by 9.5% during the third quarter. Nomura Holdings Inc. now owns 364,875 shares of the technology company’s stock valued at $59,756,000 after purchasing an additional 31,660 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

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.