Wells Fargo & Company Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price increased by research analysts at Wells Fargo & Company from $410.00 to $425.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 17.45% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus lifted their target price on CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler upped their target price on shares of CyberArk Software from $345.00 to $380.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wedbush raised their price target on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. JMP Securities restated a “market outperform” rating and issued a $360.00 price objective on shares of CyberArk Software in a research report on Tuesday, January 14th. Finally, StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, CyberArk Software has an average rating of “Moderate Buy” and a consensus target price of $362.26.

CyberArk Software Stock Performance

Shares of CyberArk Software stock traded up $2.13 during midday trading on Monday, hitting $361.85. The company had a trading volume of 61,093 shares, compared to its average volume of 458,165. The company has a 50 day moving average of $329.93 and a 200 day moving average of $296.06. The stock has a market capitalization of $15.77 billion, a P/E ratio of 1,333.47 and a beta of 1.13. CyberArk Software has a 52-week low of $223.09 and a 52-week high of $366.48.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating 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 return on equity of 2.29% and a net margin of 1.38%. The company’s revenue was up 25.6% on a year-over-year basis. During the same period last year, the company earned ($0.31) earnings per share. Equities research analysts forecast that CyberArk Software will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CYBR. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of CyberArk Software in the fourth quarter valued at $25,000. Assetmark Inc. grew its stake in 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 during the last quarter. Brown Lisle Cummings Inc. purchased a new position in CyberArk Software during the 4th quarter valued at about $50,000. Transcendent Capital Group LLC acquired a new position in CyberArk Software during the third quarter worth about $51,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of CyberArk Software in the fourth quarter valued at approximately $67,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.