Wedbush Raises CyberArk Software (NASDAQ:CYBR) Price Target to $195.00

CyberArk Software (NASDAQ:CYBRGet Rating) had its price objective increased by Wedbush from $180.00 to $195.00 in a report issued on Thursday, MarketBeat.com reports. The firm currently has an outperform rating on the technology company’s stock.

A number of other brokerages have also issued reports on CYBR. Mizuho increased their target price on shares of CyberArk Software from $195.00 to $205.00 and gave the stock a buy rating in a research report on Friday, February 11th. Wells Fargo & Company increased their target price on shares of CyberArk Software from $150.00 to $170.00 and gave the stock an equal weight rating in a research report on Wednesday, March 30th. StockNews.com upgraded shares of CyberArk Software from a sell rating to a hold rating in a research report on Friday, April 8th. Piper Sandler cut their price target on shares of CyberArk Software from $220.00 to $200.00 in a report on Thursday, January 6th. Finally, Guggenheim cut their price target on shares of CyberArk Software from $225.00 to $182.00 and set a buy rating for the company in a report on Friday, February 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $187.00.

Shares of CYBR opened at $172.58 on Thursday. CyberArk Software has a 52 week low of $113.34 and a 52 week high of $201.68. The firm’s 50-day simple moving average is $158.61 and its 200 day simple moving average is $163.84. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.72.

CyberArk Software (NASDAQ:CYBRGet Rating) last announced its earnings results on Thursday, February 10th. The technology company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.07. CyberArk Software had a negative net margin of 16.69% and a negative return on equity of 9.01%. The firm had revenue of $151.30 million for the quarter, compared to analyst estimates of $144.48 million. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that CyberArk Software will post -3.35 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Bangor Savings Bank raised its stake in shares of CyberArk Software by 0.4% during the first quarter. Bangor Savings Bank now owns 17,963 shares of the technology company’s stock valued at $3,031,000 after acquiring an additional 70 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of CyberArk Software by 2.4% during the third quarter. Teacher Retirement System of Texas now owns 3,307 shares of the technology company’s stock valued at $522,000 after acquiring an additional 76 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of CyberArk Software by 0.7% during the fourth quarter. Van ECK Associates Corp now owns 12,479 shares of the technology company’s stock valued at $2,162,000 after acquiring an additional 85 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of CyberArk Software by 1.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 7,730 shares of the technology company’s stock valued at $1,339,000 after acquiring an additional 100 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of CyberArk Software by 5.9% during the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the technology company’s stock valued at $312,000 after acquiring an additional 100 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

About CyberArk Software (Get Rating)

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Europe, the Middle East, Africa, 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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