CyberArk Software (NASDAQ:CYBR) Price Target Cut to $405.00 by Analysts at Barclays

CyberArk Software (NASDAQ:CYBR) had its price objective lowered by stock analysts at Barclays from $450.00 to $405.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 14.52% from the company’s previous close.

Several other analysts also recently commented on CYBR. KeyCorp raised their target price on shares of CyberArk Software from $400.00 to $485.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Wells Fargo & Company boosted their price objective on shares of CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Citigroup increased their target price on CyberArk Software from $410.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Morgan Stanley started coverage on CyberArk Software in a research report on Tuesday, March 18th. They set an “equal weight” rating for the company. Finally, Piper Sandler lifted their target price on CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $414.64.

CyberArk Software Price Performance

Shares of CyberArk Software stock traded up $4.20 during trading on Monday, hitting $353.64. 106,948 shares of the company were exchanged, compared to its average volume of 526,245. The firm has a market capitalization of $17.48 billion, a P/E ratio of -181.35 and a beta of 1.00. The firm’s fifty day moving average price is $356.48 and its 200 day moving average price is $330.98. CyberArk Software has a 1-year low of $223.41 and a 1-year high of $421.00.

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

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently made changes to their positions in CYBR. MML Investors Services LLC lifted its holdings in shares of CyberArk Software by 3.1% during the third quarter. MML Investors Services LLC now owns 8,339 shares of the technology company’s stock worth $2,432,000 after buying an additional 249 shares in the last quarter. Geode Capital Management LLC raised its stake in CyberArk Software by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 372,231 shares of the technology company’s stock worth $108,020,000 after purchasing an additional 14,724 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after purchasing an additional 42 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of CyberArk Software during the 3rd quarter worth approximately $144,000. Finally, Oddo BHF Asset Management Sas bought a new position in shares of CyberArk Software during the third quarter worth approximately $1,135,000. 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.