Analysts Set CyberArk Software Ltd. (NASDAQ:CYBR) Target Price at $280.63

CyberArk Software Ltd. (NASDAQ:CYBR) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and twenty-three have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $290.83.

A number of research firms have recently commented on CYBR. Guggenheim restated a “buy” rating and issued a $300.00 price objective on shares of CyberArk Software in a report on Tuesday, June 25th. Needham & Company LLC restated a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a report on Friday. Wedbush lifted their price target on shares of CyberArk Software from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday. Rosenblatt Securities reiterated a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research note on Tuesday, August 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $310.00 target price on shares of CyberArk Software in a research note on Monday, June 17th.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds have recently bought and sold shares of the company. L & S Advisors Inc bought a new stake in shares of CyberArk Software in the 2nd quarter valued at approximately $328,000. Primecap Management Co. CA boosted its holdings in CyberArk Software by 0.5% in the second quarter. Primecap Management Co. CA now owns 61,850 shares of the technology company’s stock worth $16,911,000 after purchasing an additional 300 shares during the period. Dimensional Fund Advisors LP increased its stake in CyberArk Software by 506.7% during the second quarter. Dimensional Fund Advisors LP now owns 6,565 shares of the technology company’s stock valued at $1,795,000 after purchasing an additional 5,483 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of CyberArk Software by 31.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 13,333 shares of the technology company’s stock worth $3,646,000 after purchasing an additional 3,208 shares during the period. Finally, O Neil Global Advisors Inc. bought a new position in shares of CyberArk Software in the 2nd quarter worth about $1,812,000. 91.84% of the stock is currently owned by institutional investors and hedge funds.

CyberArk Software Stock Performance

CyberArk Software stock opened at $273.72 on Monday. The company has a market cap of $11.57 billion, a price-to-earnings ratio of -427.69 and a beta of 1.14. CyberArk Software has a 1 year low of $148.01 and a 1 year high of $284.10. The firm has a 50 day moving average price of $258.55 and a 200 day moving average price of $252.74.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.14. The company had revenue of $224.71 million during the quarter, compared to analysts’ expectations of $219.06 million. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.51%. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.58) EPS. Sell-side analysts predict that CyberArk Software will post -1.24 EPS for the current 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.