Robert W. Baird Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBRGet Free Report) had its target price boosted by equities researchers at Robert W. Baird from $355.00 to $370.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 21.28% from the company’s previous close.

CYBR has been the subject of several other reports. Jefferies Financial Group lifted their price target on CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Barclays upped their price target on CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. 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. BTIG Research boosted their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday. One analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and an average price target of $336.41.

View Our Latest Stock Analysis on CYBR

CyberArk Software Stock Performance

Shares of CYBR opened at $305.08 on Tuesday. The firm has a market cap of $13.29 billion, a P/E ratio of 1,129.97 and a beta of 1.13. CyberArk Software has a fifty-two week low of $205.59 and a fifty-two week high of $333.32. The business has a 50-day moving average of $304.74 and a 200 day moving average of $280.48.

CyberArk Software (NASDAQ:CYBRGet Free Report) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.48. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.31) earnings per share. As a group, research analysts predict that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently made changes to their positions in CYBR. International Assets Investment Management LLC purchased a new stake in CyberArk Software during the third quarter valued at about $82,485,000. Anomaly Capital Management LP bought a new stake in shares of CyberArk Software in the 2nd quarter valued at about $49,145,000. Clearbridge Investments LLC boosted its holdings in CyberArk Software by 250.0% during the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock valued at $61,350,000 after acquiring an additional 160,269 shares during the period. Hood River Capital Management LLC grew its position in CyberArk Software by 59.2% during the 2nd quarter. Hood River Capital Management LLC now owns 223,584 shares of the technology company’s stock worth $61,132,000 after acquiring an additional 83,172 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in CyberArk Software by 89.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 167,305 shares of the technology company’s stock worth $45,745,000 after purchasing an additional 78,887 shares during the period. Institutional investors own 91.84% of the company’s stock.

About CyberArk Software

(Get Free Report)

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.

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