CyberArk Software (NASDAQ:CYBR) Price Target Increased to $198.00 by Analysts at Bank of America

Posted by on Sep 21st, 2023

CyberArk Software (NASDAQ:CYBR – Free Report) had its price target upped by Bank of America from $187.00 to $198.00 in a research note released on Wednesday, FlyOnTheWall reports.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. raised their target price on CyberArk Software from $175.00 to $182.00 and gave the stock a neutral rating in a research note on Friday, August 11th. Barclays raised their target price on CyberArk Software from $178.00 to $180.00 and gave the stock an overweight rating in a research note on Friday, August 11th. DA Davidson raised their target price on CyberArk Software from $185.00 to $200.00 and gave the stock a buy rating in a research note on Friday, August 11th. Oppenheimer raised their target price on CyberArk Software from $180.00 to $195.00 and gave the stock an outperform rating in a research note on Friday, August 11th. Finally, Citigroup lifted their price target on CyberArk Software from $180.00 to $190.00 and gave the company a buy rating in a research report on Tuesday, August 29th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $184.70.

Check Out Our Latest Analysis on CyberArk Software

CyberArk Software Stock Up 3.8 %

CYBR stock opened at $172.94 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 2.25 and a current ratio of 2.25. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of -61.54 and a beta of 1.04. CyberArk Software has a fifty-two week low of $113.19 and a fifty-two week high of $174.93. The stock has a fifty day moving average of $160.90 and a 200-day moving average of $150.22.

CyberArk Software (NASDAQ:CYBR – Get Free Report) last posted its quarterly earnings results on Thursday, August 10th. The technology company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.28. CyberArk Software had a negative return on equity of 15.40% and a negative net margin of 17.55%. The company had revenue of $175.84 million during the quarter, compared to the consensus estimate of $173.20 million. As a group, equities research analysts predict that CyberArk Software will post -2.37 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in CyberArk Software by 31.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,524 shares of the technology company’s stock worth $2,297,000 after purchasing an additional 3,751 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in CyberArk Software in the 1st quarter worth approximately $735,000. Victory Capital Management Inc. increased its stake in CyberArk Software by 1.0% in the 1st quarter. Victory Capital Management Inc. now owns 229,083 shares of the technology company’s stock worth $33,900,000 after purchasing an additional 2,200 shares during the period. Congress Wealth Management LLC DE increased its stake in CyberArk Software by 10.7% in the 1st quarter. Congress Wealth Management LLC DE now owns 12,478 shares of the technology company’s stock worth $1,846,000 after purchasing an additional 1,207 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in CyberArk Software by 3.1% in the 1st quarter. Peregrine Capital Management LLC now owns 85,153 shares of the technology company’s stock worth $12,601,000 after purchasing an additional 2,589 shares during the period. 92.14% of the stock is owned by hedge funds and other institutional investors.

CyberArk Software Company Profile

(Get Free Report)

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Israel, Europe, the Middle East, Africa, the United Kingdom, and internationally. Its solutions include Privileged Access Manager that offers risk-based credential security and session management to protect against attacks involving privileged access; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide fast, easy, and secure privileged access to third-party vendors; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Cloud Entitlements Manager, a SaaS solution, which reduces risk that arises from excessive privileges by implementing least privilege across cloud environments.

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Analyst Recommendations for CyberArk Software (NASDAQ:CYBR)

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