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

CyberArk Software (NASDAQ:CYBR) had its price target lifted by research analysts at Stifel Nicolaus from $370.00 to $444.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 9.39% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CYBR. Barclays lifted their price objective on shares of CyberArk Software from $375.00 to $450.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group lifted their price objective on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. DA Davidson lifted their price objective on shares of CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Royal Bank of Canada lifted their price objective on shares of CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Finally, Piper Sandler raised their target price on shares of CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $395.74.

CyberArk Software Stock Down 2.0 %

Shares of CYBR traded down $8.41 during mid-day trading on Friday, hitting $405.91. 325,027 shares of the company’s stock were exchanged, compared to its average volume of 539,855. CyberArk Software has a 52 week low of $223.09 and a 52 week high of $419.49. The stock’s 50-day simple moving average is $346.11 and its 200-day simple moving average is $306.73. The firm has a market cap of $17.69 billion, a price-to-earnings ratio of 1,503.51 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) 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%. Analysts forecast that CyberArk Software will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds and other institutional investors have recently bought and sold shares of CYBR. Creative Planning lifted its holdings in CyberArk Software by 14.0% in the third quarter. Creative Planning now owns 11,971 shares of the technology company’s stock valued at $3,491,000 after buying an additional 1,471 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in CyberArk Software by 26.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,123 shares of the technology company’s stock valued at $1,202,000 after purchasing an additional 852 shares in the last quarter. Blue Trust Inc. increased its stake in CyberArk Software by 49.4% in the third quarter. Blue Trust Inc. now owns 1,155 shares of the technology company’s stock valued at $316,000 after purchasing an additional 382 shares in the last quarter. Nepsis Inc. increased its stake in CyberArk Software by 2.9% in the third quarter. Nepsis Inc. now owns 57,239 shares of the technology company’s stock valued at $16,691,000 after purchasing an additional 1,595 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in CyberArk Software by 45.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 171,893 shares of the technology company’s stock valued at $50,126,000 after purchasing an additional 53,502 shares in the last quarter. Institutional investors and hedge funds 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.