CyberArk Software (NASDAQ:CYBR) Given New $385.00 Price Target at Truist Financial

CyberArk Software (NASDAQ:CYBR) had its price target upped by Truist Financial from $350.00 to $385.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

A number of other research firms have also recently weighed in on CYBR. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $415.00 price target on shares of CyberArk Software in a research note on Monday. BTIG Research upped their target price on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup lifted their price target on shares of CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Mizuho upped their price target on CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Barclays lifted their price objective on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a 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 company’s stock. According to data from MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and an average target price of $367.44.

CyberArk Software Stock Up 0.8 %

NASDAQ CYBR opened at $371.63 on Tuesday. The stock has a market capitalization of $16.19 billion, a P/E ratio of 1,376.46 and a beta of 1.13. CyberArk Software has a 52-week low of $223.09 and a 52-week high of $377.22. The firm has a 50-day moving average price of $333.24 and a 200 day moving average price of $297.93.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. During the same period in the prior year, the business posted ($0.31) EPS. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, equities research analysts expect that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its holdings in CyberArk Software by 32.3% in the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after buying an additional 391,900 shares during the period. Groupama Asset Managment grew its holdings in CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares during the period. Nepsis Inc. increased its position in CyberArk Software by 882.4% during the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after purchasing an additional 505,088 shares during the last quarter. Swedbank AB raised its stake in CyberArk Software by 19.0% during the fourth quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock worth $181,600,000 after purchasing an additional 87,201 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of CyberArk Software by 195.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock valued at $170,614,000 after purchasing an additional 336,462 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.