Robert W. Baird Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its target price upped by analysts at Robert W. Baird from $450.00 to $460.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 29.56% from the company’s current price.

Several other equities research analysts have also weighed in on the company. StockNews.com lowered CyberArk Software from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Scotiabank raised their target price on CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Roth Capital started coverage on CyberArk Software in a research report on Tuesday. They set a “buy” rating and a $415.00 target price on the stock. Piper Sandler raised their target price on CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of CyberArk Software in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $415.71.

CyberArk Software Price Performance

CYBR stock opened at $355.05 on Wednesday. The firm has a market capitalization of $17.55 billion, a P/E ratio of -182.08 and a beta of 0.99. The business’s 50-day moving average is $342.67 and its two-hundred day moving average is $340.02. CyberArk Software has a 1 year low of $223.41 and a 1 year high of $421.00.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. On average, analysts expect that CyberArk Software will post -0.47 EPS for the current year.

Institutional Trading of CyberArk Software

Several hedge funds have recently modified their holdings of CYBR. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of CyberArk Software in the 4th quarter valued at approximately $25,000. TD Private Client Wealth LLC lifted its holdings in shares of CyberArk Software by 79.1% in the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after buying an additional 34 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of CyberArk Software by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company’s stock valued at $26,000 after buying an additional 39 shares during the period. Whipplewood Advisors LLC lifted its holdings in shares of CyberArk Software by 135.3% in the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company’s stock valued at $27,000 after buying an additional 46 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of CyberArk Software by 421.1% in the 1st quarter. Bessemer Group Inc. now owns 99 shares of the technology company’s stock valued at $33,000 after buying an additional 80 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

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.