Royal Bank of Canada Boosts CyberArk Software (NASDAQ:CYBR) Price Target to $385.00

CyberArk Software (NASDAQ:CYBR) had its price target lifted by Royal Bank of Canada from $358.00 to $385.00 in a research note released on Friday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other analysts have also weighed in on the company. Wells Fargo & Company increased their price target on CyberArk Software from $350.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday. JMP Securities increased their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. KeyCorp raised their target price on shares of CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. UBS Group increased their price objective on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Barclays boosted their target price on CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and an average target price of $345.22.

CyberArk Software Stock Up 1.1 %

Shares of NASDAQ:CYBR opened at $339.47 on Friday. The firm has a fifty day simple moving average of $311.92 and a two-hundred day simple moving average of $287.20. CyberArk Software has a 52 week low of $209.50 and a 52 week high of $348.02. The stock has a market capitalization of $14.79 billion, a P/E ratio of 1,257.34 and a beta of 1.13.

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

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors have recently added to or reduced their stakes in CYBR. Jennison Associates LLC boosted its holdings in shares of CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after buying an additional 9,570 shares in the last quarter. Groupama Asset Managment lifted its position in CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after acquiring an additional 5,402 shares during the last quarter. RGM Capital LLC boosted its stake in CyberArk Software by 2.1% in the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after acquiring an additional 16,530 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in CyberArk Software by 3.3% in the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after purchasing an additional 14,927 shares during the last quarter. Finally, Swedbank AB increased its position in shares of CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after purchasing an additional 45,799 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

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.