JPMorgan Chase & Co. Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price raised by JPMorgan Chase & Co. from $355.00 to $375.00 in a research report report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other brokerages also recently issued reports on CYBR. Canaccord Genuity Group upped their price target on CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Jefferies Financial Group upped their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Barclays lifted their price target on shares of CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Susquehanna upped their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, Wedbush lifted their target price on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $334.56.

CyberArk Software Trading Up 1.9 %

Shares of NASDAQ:CYBR opened at $319.16 on Monday. CyberArk Software has a 52 week low of $205.59 and a 52 week high of $333.32. The company’s 50 day moving average is $302.84 and its two-hundred day moving average is $279.02. The company has a market cap of $13.91 billion, a PE ratio of 1,179.44 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.46 by $0.48. The firm had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. CyberArk Software’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.31) earnings per share. As a group, equities research analysts expect that CyberArk Software will post -0.58 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently bought and sold shares of CYBR. 1620 Investment Advisors Inc. purchased a new position in shares of CyberArk Software in the second quarter valued at $39,000. Assetmark Inc. grew its stake in CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after acquiring an additional 123 shares during the last quarter. Arcadia Investment Management Corp MI increased its holdings in CyberArk Software by 42.2% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after acquiring an additional 54 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in CyberArk Software during the third quarter worth about $51,000. Finally, DT Investment Partners LLC purchased a new stake in shares of CyberArk Software in the second quarter valued at about $78,000. 91.84% of the stock is owned by hedge funds and other institutional investors.

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.