CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

CyberArk Software (NASDAQ:CYBR) had its target price boosted by investment analysts at Canaccord Genuity Group from $330.00 to $440.00 in a report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price points to a potential upside of 6.46% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Needham & Company LLC raised their target price on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Truist Financial lifted their price target on shares of CyberArk Software from $350.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Barclays lifted their price target on shares of CyberArk Software from $375.00 to $450.00 and gave the company an “overweight” rating in a report on Friday. Robert W. Baird lifted their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, Rosenblatt Securities lifted their price target on shares of CyberArk Software from $415.00 to $445.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and a consensus target price of $401.67.

CyberArk Software Price Performance

Shares of NASDAQ CYBR opened at $413.31 on Friday. CyberArk Software has a one year low of $223.09 and a one year high of $419.49. The stock has a market capitalization of $18.01 billion, a P/E ratio of 1,530.83 and a beta of 1.15. The firm’s 50 day simple moving average is $347.91 and its two-hundred day simple moving average is $308.16.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. As a group, equities analysts expect that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently modified their holdings of the stock. HighTower Advisors LLC increased its holdings in CyberArk Software by 16.6% in the 3rd quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock worth $4,212,000 after buying an additional 2,062 shares in the last quarter. Groupama Asset Managment increased its holdings in CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after buying an additional 5,402 shares in the last quarter. Jennison Associates LLC increased its holdings in CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after buying an additional 9,570 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in CyberArk Software in the 3rd quarter worth about $8,612,000. Finally, International Assets Investment Management LLC bought a new stake in CyberArk Software in the 3rd quarter worth about $82,485,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

About CyberArk Software

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.