CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, DA Davidson Analyst Says

Key Points

• DA Davidson has increased CyberArk Software's price target from $465.00 to $518.00, indicating a potential upside of 25.08% from its current price.
• CyberArk reported earnings of $0.98 per share for the last quarter, surpassing the analysts' expectations of $0.79 and showing a 43.3% increase in revenue year-over-year.
• Despite varying opinions from analysts, the overall consensus rating for CyberArk's stock remains a "Moderate Buy," with a target price averaging $433.39.

CyberArk Software (NASDAQ:CYBR - Get Free Report) had its price target boosted by stock analysts at DA Davidson from $465.00 to $518.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. DA Davidson's price objective would suggest a potential upside of 25.08% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. Stifel Nicolaus reaffirmed a "hold" rating and issued a $444.00 target price on shares of CyberArk Software in a report on Thursday. William Blair reiterated a "market perform" rating on shares of CyberArk Software in a research note on Wednesday. Guggenheim reissued a "neutral" rating and set a $455.00 price target on shares of CyberArk Software in a research note on Thursday. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $448.00 price objective (up previously from $420.00) on shares of CyberArk Software in a research note on Thursday. Finally, KeyCorp reduced their price target on CyberArk Software from $485.00 to $425.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Nine equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $433.39.

CyberArk Software Price Performance

CyberArk Software stock traded down $21.04 during midday trading on Thursday, hitting $414.15. The company's stock had a trading volume of 7,194,453 shares, compared to its average volume of 841,203. The company has a 50-day moving average price of $390.58 and a two-hundred day moving average price of $367.00. CyberArk Software has a 1-year low of $230.00 and a 1-year high of $452.00. The company has a market cap of $20.47 billion, a price-to-earnings ratio of -222.73 and a beta of 1.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.19. The business had revenue of $317.60 million during the quarter, compared to analysts' expectations of $305.57 million. CyberArk Software had a positive return on equity of 0.71% and a negative net margin of 7.97%. The firm's revenue for the quarter was up 43.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 earnings per share. Sell-side analysts forecast that CyberArk Software will post -0.47 EPS for the current year.

Institutional Trading of CyberArk Software

Several hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC grew its position in CyberArk Software by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock worth $26,000 after buying an additional 39 shares in the last quarter. Whipplewood Advisors LLC boosted its stake in shares of CyberArk Software by 135.3% during the first quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock valued at $27,000 after purchasing an additional 46 shares during the period. Opal Wealth Advisors LLC bought a new stake in CyberArk Software in the 2nd quarter worth $30,000. Bessemer Group Inc. lifted its holdings in CyberArk Software by 421.1% in the 1st quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock worth $33,000 after buying an additional 80 shares during the period. Finally, Morse Asset Management Inc bought a new stake in CyberArk Software in the first quarter valued at $34,000. 91.84% of the stock is currently owned by 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.

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