CyberArk Software (NASDAQ:CYBR) Price Target Lowered to $275.00 at DA Davidson

CyberArk Software (NASDAQ:CYBR) had its price target lowered by analysts at DA Davidson from $300.00 to $275.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. DA Davidson’s target price indicates a potential upside of 20.97% from the stock’s current price.

Several other analysts have also issued reports on CYBR. Truist Financial increased their target price on CyberArk Software from $250.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Rosenblatt Securities reissued a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Wednesday. Citigroup boosted their price objective on CyberArk Software from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 target price on shares of CyberArk Software in a research report on Friday. Finally, Mizuho upped their price objective on CyberArk Software from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $265.63.

CyberArk Software Trading Down 2.7 %

Shares of CyberArk Software stock traded down $6.22 on Friday, reaching $227.32. 768,883 shares of the company were exchanged, compared to its average volume of 582,623. CyberArk Software has a one year low of $125.15 and a one year high of $283.00. The company has a market capitalization of $9.61 billion, a price-to-earnings ratio of -140.32 and a beta of 1.06. The company has a 50-day moving average of $254.41 and a 200 day moving average of $225.88.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.53. CyberArk Software had a negative return on equity of 8.23% and a negative net margin of 8.84%. The business had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $209.65 million. Analysts predict that CyberArk Software will post -1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CYBR. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in CyberArk Software by 6.4% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,810 shares of the technology company’s stock worth $2,098,000 after buying an additional 769 shares during the period. Raymond James & Associates grew its position in shares of CyberArk Software by 37.9% in the third quarter. Raymond James & Associates now owns 52,506 shares of the technology company’s stock valued at $8,599,000 after purchasing an additional 14,418 shares during the last quarter. JB Capital LLC acquired a new stake in shares of CyberArk Software in the third quarter valued at approximately $887,000. Solstein Capital LLC grew its position in shares of CyberArk Software by 6.2% in the third quarter. Solstein Capital LLC now owns 24,106 shares of the technology company’s stock valued at $3,948,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of CyberArk Software by 4.8% in the third quarter. Mackenzie Financial Corp now owns 2,862 shares of the technology company’s stock valued at $449,000 after purchasing an additional 131 shares during the last quarter. 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.