Wedbush Raises CyberArk Software (NASDAQ:CYBR) Price Target to $325.00

CyberArk Software (NASDAQ:CYBR) had its price objective increased by Wedbush from $300.00 to $325.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on CYBR. Robert W. Baird lifted their price target on shares of CyberArk Software from $295.00 to $315.00 and gave the company an outperform rating in a research report on Friday, August 9th. Rosenblatt Securities reiterated a buy rating and set a $310.00 target price on shares of CyberArk Software in a research report on Tuesday, August 6th. JMP Securities reissued a market outperform rating and issued a $310.00 target price on shares of CyberArk Software in a report on Monday, June 17th. Susquehanna lifted their price target on CyberArk Software from $310.00 to $320.00 and gave the stock a positive rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada began coverage on shares of CyberArk Software in a research note on Friday, September 20th. They issued an outperform rating and a $328.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, CyberArk Software presently has an average rating of Moderate Buy and an average target price of $296.92.

CyberArk Software Trading Up 0.5 %

Shares of CYBR opened at $280.34 on Tuesday. The stock’s 50 day moving average is $272.71 and its two-hundred day moving average is $259.29. CyberArk Software has a twelve month low of $152.03 and a twelve month high of $294.89. The firm has a market capitalization of $11.85 billion, a PE ratio of -438.03 and a beta of 1.12.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The firm had revenue of $224.71 million for the quarter, compared to analyst estimates of $219.06 million. During the same quarter in the prior year, the company posted ($0.58) earnings per share. CyberArk Software’s quarterly revenue was up 27.8% on a year-over-year basis. On average, sell-side analysts predict that CyberArk Software will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CYBR. RGM Capital LLC grew its holdings in CyberArk Software by 2.1% in the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after purchasing an additional 16,530 shares during the period. Whale Rock Capital Management LLC grew its stake in shares of CyberArk Software by 21.6% during the 1st quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock valued at $122,144,000 after buying an additional 81,801 shares during the period. Swedbank AB acquired a new stake in shares of CyberArk Software during the 1st quarter worth $109,466,000. Acadian Asset Management LLC raised its position in shares of CyberArk Software by 38.2% in the 1st quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock worth $107,642,000 after buying an additional 112,112 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in CyberArk Software by 1,291.7% in the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after acquiring an additional 358,602 shares during the last quarter. Institutional investors and hedge funds 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.