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.

A number of other brokerages have also issued reports on CYBR. Piper Sandler increased their target price on shares of CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $335.00 price objective on shares of CyberArk Software in a research note on Thursday, November 14th. StockNews.com upgraded CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Oppenheimer increased their price target on CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price objective on CyberArk Software from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $336.41.

CyberArk Software Stock Up 1.3 %

Shares of NASDAQ:CYBR opened at $319.15 on Wednesday. The company’s 50-day moving average price is $305.63 and its 200 day moving average price is $281.34. The company has a market cap of $13.91 billion, a PE ratio of 1,182.08 and a beta of 1.13. CyberArk Software has a fifty-two week low of $205.59 and a fifty-two week high of $333.32.

CyberArk Software (NASDAQ:CYBR) last released its quarterly 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. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. During the same quarter in the previous year, the company posted ($0.31) earnings per share. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, equities analysts anticipate that CyberArk Software will post -0.58 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc bought a new position in shares of CyberArk Software during the 2nd quarter valued at $711,000. HighTower Advisors LLC raised its holdings in CyberArk Software by 16.6% during 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. Sycomore Asset Management lifted its position in shares of CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock worth $15,973,000 after buying an additional 16,294 shares during the last quarter. Groupama Asset Managment boosted its stake in shares of CyberArk Software by 0.5% during the 3rd 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 in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of CyberArk Software by 0.8% during the 3rd 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 in the last quarter. Institutional investors own 91.84% of the company’s stock.

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.