Truist Financial Lowers CyberArk Software (NASDAQ:CYBR) Price Target to $425.00

CyberArk Software (NASDAQ:CYBR) had its price objective reduced by equities research analysts at Truist Financial from $450.00 to $425.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price points to a potential upside of 26.59% from the stock’s current price.

CYBR has been the topic of several other research reports. Barclays increased their target price on shares of CyberArk Software from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. StockNews.com lowered shares of CyberArk Software from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Rosenblatt Securities restated a “buy” rating and set a $445.00 target price on shares of CyberArk Software in a research report on Wednesday, February 26th. Royal Bank of Canada increased their price target on CyberArk Software from $385.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. Finally, DA Davidson reissued a “buy” rating and set a $475.00 price target on shares of CyberArk Software in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $417.22.

CyberArk Software Price Performance

Shares of NASDAQ CYBR opened at $335.74 on Monday. CyberArk Software has a 1-year low of $223.41 and a 1-year high of $421.00. The business’s 50 day moving average is $364.16 and its two-hundred day moving average is $326.66. The stock has a market capitalization of $16.59 billion, a P/E ratio of -172.17 and a beta of 1.06.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. As a group, equities research analysts anticipate that CyberArk Software will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds have recently made changes to their positions in the stock. Thoma Bravo L.P. bought a new position in CyberArk Software in the fourth quarter worth about $380,637,000. Norges Bank purchased a new position in shares of CyberArk Software in the 4th quarter worth approximately $203,375,000. Nepsis Inc. raised its stake in shares of CyberArk Software by 882.4% during the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after acquiring an additional 505,088 shares in the last quarter. Jennison Associates LLC lifted its position in CyberArk Software by 32.3% during the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after acquiring an additional 391,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in CyberArk Software by 195.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock valued at $170,614,000 after acquiring an additional 336,462 shares in the last quarter. 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.