Stifel Nicolaus Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price lifted by Stifel Nicolaus from $335.00 to $370.00 in a research report sent to investors on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

Several other research firms also recently commented on CYBR. Oppenheimer raised their target price on CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Piper Sandler lifted their price objective on CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. BTIG Research upped their target price on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a report on Monday. Finally, Wedbush upped their price objective on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and an average target price of $336.41.

CyberArk Software Price Performance

Shares of CyberArk Software stock opened at $305.08 on Wednesday. The company’s fifty day moving average price is $304.74 and its two-hundred day moving average price is $280.48. The firm has a market capitalization of $13.29 billion, a PE ratio of 1,129.97 and a beta of 1.13. CyberArk Software has a 52-week low of $205.59 and a 52-week high of $333.32.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. The business had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. Analysts predict 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 bought and sold shares of CYBR. Ensign Peak Advisors Inc acquired a new position in shares of CyberArk Software in the 2nd quarter valued at $711,000. HighTower Advisors LLC increased its holdings in 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 purchasing an additional 2,062 shares during the last quarter. Sycomore Asset Management lifted its stake in CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after buying an additional 16,294 shares during the period. Jennison Associates LLC boosted its holdings in CyberArk Software by 0.8% during the third 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 during the last quarter. Finally, Groupama Asset Managment increased its stake in shares of CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after acquiring an additional 5,402 shares during the last quarter. 91.84% of the stock is currently 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.