CyberArk Software (NASDAQ:CYBR) Price Target Raised to $365.00 at Mizuho

CyberArk Software (NASDAQ:CYBR) had its price target raised by stock analysts at Mizuho from $345.00 to $365.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Mizuho’s price target would suggest a potential upside of 13.52% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Robert W. Baird upped their price target on CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler upped their target price on CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. JMP Securities lifted their price target on CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. BTIG Research boosted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Wedbush raised their price objective on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $333.00.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $321.54 on Friday. CyberArk Software has a fifty-two week low of $198.01 and a fifty-two week high of $333.32. The stock’s fifty day moving average is $302.18 and its two-hundred day moving average is $277.92. The firm has a market capitalization of $14.01 billion, a P/E ratio of 1,190.93 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly 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. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. During the same period last year, the firm posted ($0.31) earnings per share. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, equities analysts forecast that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Trading of CyberArk Software

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ensign Peak Advisors Inc acquired a new position in shares of CyberArk Software in the second quarter valued at approximately $711,000. Sycomore Asset Management grew its stake 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 worth $15,973,000 after acquiring an additional 16,294 shares in the last quarter. Jennison Associates LLC increased its position in shares of CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares during the period. Groupama Asset Managment increased its position in shares of CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after acquiring an additional 5,402 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after purchasing an additional 2,062 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.