Brokerages Set CyberArk Software Ltd. (NASDAQ:CYBR) Price Target at $292.32

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) have been given a consensus recommendation of “Moderate Buy” by the twenty-five brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and twenty-four have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $295.92.

Several equities research analysts have recently weighed in on CYBR shares. Rosenblatt Securities reissued a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a report on Tuesday, August 6th. Guggenheim reissued a “buy” rating and issued a $300.00 price objective on shares of CyberArk Software in a report on Tuesday, June 25th. Royal Bank of Canada initiated coverage on CyberArk Software in a report on Friday, September 20th. They issued an “outperform” rating and a $328.00 price objective for the company. DA Davidson increased their price target on CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Barclays increased their price target on CyberArk Software from $280.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Centaurus Financial Inc. purchased a new position in shares of CyberArk Software in the second quarter valued at $109,000. Sanctuary Advisors LLC purchased a new position in shares of CyberArk Software in the second quarter valued at $2,380,000. Sycomore Asset Management increased its position in shares of CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after buying an additional 16,294 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of CyberArk Software by 250.0% in the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock valued at $61,350,000 after buying an additional 160,269 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of CyberArk Software by 2.5% in the second quarter. Cetera Investment Advisers now owns 11,733 shares of the technology company’s stock valued at $3,208,000 after buying an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Up 3.1 %

Shares of CyberArk Software stock opened at $291.61 on Tuesday. The firm has a market capitalization of $12.32 billion, a P/E ratio of -455.64 and a beta of 1.11. CyberArk Software has a 52 week low of $152.03 and a 52 week high of $293.31. The firm’s 50 day moving average is $270.61 and its two-hundred day moving average is $258.53.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.14. The business had revenue of $224.71 million during the quarter, compared to the consensus estimate of $219.06 million. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The company’s revenue was up 27.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.58) earnings per share. As a group, research analysts expect that CyberArk Software will post -1.06 earnings per share for the current fiscal year.

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.