Morgan Stanley Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price target boosted by Morgan Stanley from $316.00 to $390.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the technology company’s stock.

CYBR has been the subject of a number of other reports. Citigroup raised their price target on shares of CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company raised their price target on shares of CyberArk Software from $410.00 to $425.00 and gave the company an “overweight” rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on shares of CyberArk Software from $375.00 to $431.00 and gave the company an “overweight” rating in a research note on Tuesday. Truist Financial increased their price objective on shares of CyberArk Software from $350.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $415.00 price objective on shares of CyberArk Software in a research note on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, CyberArk Software has an average rating of “Moderate Buy” and an average target price of $401.67.

CyberArk Software Stock Down 0.2 %

CyberArk Software stock opened at $413.31 on Friday. CyberArk Software has a 52-week low of $223.09 and a 52-week high of $419.49. The firm has a fifty day moving average of $346.11 and a 200-day moving average of $306.73. The firm has a market capitalization of $18.01 billion, a P/E ratio of 1,530.83 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. On average, research analysts expect that CyberArk Software will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently bought and sold shares of CYBR. Norges Bank acquired a new position in CyberArk Software during the 4th quarter valued at about $203,375,000. Nepsis Inc. grew its stake in shares of CyberArk Software by 882.4% in the 4th 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. Jennison Associates LLC grew its stake in shares of CyberArk Software by 32.3% in the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after purchasing an additional 391,900 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake 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 worth $170,614,000 after purchasing an additional 336,462 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of CyberArk Software in the 3rd quarter worth approximately $82,485,000. Institutional investors and hedge funds 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.