Stifel Nicolaus Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its target price upped by equities researchers at Stifel Nicolaus from $335.00 to $370.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 16.50% from the stock’s previous close.

A number of other brokerages have also recently weighed in on CYBR. Susquehanna lifted their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. UBS Group lifted their price target on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. KeyCorp lifted their price target on CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. BTIG Research lifted their target price on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their target price on CyberArk Software from $300.00 to $350.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $336.41.

CyberArk Software Stock Down 0.1 %

CYBR stock traded down $0.23 during mid-day trading on Wednesday, reaching $317.59. The company had a trading volume of 112,131 shares, compared to its average volume of 514,946. The stock has a market capitalization of $13.84 billion, a P/E ratio of 1,176.26 and a beta of 1.13. CyberArk Software has a one year low of $205.59 and a one year high of $333.32. The stock’s 50-day simple moving average is $304.41 and its two-hundred day simple moving average is $280.31.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) 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 period last year, the business posted ($0.31) earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. On average, research analysts forecast that CyberArk Software will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Ensign Peak Advisors Inc acquired a new position in shares of CyberArk Software during the second quarter worth approximately $711,000. HighTower Advisors LLC increased its position in shares of 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 purchasing an additional 2,062 shares during the period. Sycomore Asset Management increased its position in shares of CyberArk Software by 36.6% during the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after purchasing an additional 16,294 shares during the period. Jennison Associates LLC increased its position in shares of CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the period. Finally, Groupama Asset Managment increased its position in shares of CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.