CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

CyberArk Software (NASDAQ:CYBR) had its target price hoisted by research analysts at Stifel Nicolaus from $370.00 to $444.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price target points to a potential upside of 7.43% from the stock’s current price.

CYBR has been the topic of several other reports. Royal Bank of Canada boosted their price objective on shares of CyberArk Software from $385.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their price objective on shares of CyberArk Software from $410.00 to $425.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Susquehanna upped their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. UBS Group upped their price target on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Truist Financial upped their price objective on shares of CyberArk Software from $385.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $401.67.

CyberArk Software Trading Down 0.2 %

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

CyberArk Software (NASDAQ:CYBR) last issued its quarterly 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 net margin of 1.38% and a return on equity of 2.29%. As a group, equities research analysts forecast that CyberArk Software will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds and other institutional investors have recently made changes to their positions in CYBR. HighTower Advisors LLC boosted its stake in shares of CyberArk Software by 16.6% in the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after buying an additional 2,062 shares in the last quarter. Groupama Asset Managment raised its holdings in shares of CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after acquiring an additional 5,402 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of CyberArk Software by 0.8% in the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in CyberArk Software in the third quarter valued at $8,612,000. Finally, International Assets Investment Management LLC acquired a new position in CyberArk Software in the third quarter valued at $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.