CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

CyberArk Software (NASDAQ:CYBR - Free Report) had its price target lifted by Canaccord Genuity Group from $330.00 to $440.00 in a report published on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the technology company's stock.

Several other analysts have also commented on the company. Truist Financial raised their price objective on CyberArk Software from $350.00 to $385.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Piper Sandler raised their price objective on CyberArk Software from $380.00 to $440.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Wells Fargo & Company raised their price objective on CyberArk Software from $410.00 to $425.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Susquehanna raised their price objective on CyberArk Software from $320.00 to $345.00 and gave the company a "positive" rating in a report on Thursday, November 14th. Finally, Robert W. Baird raised their price objective on CyberArk Software from $355.00 to $370.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, CyberArk Software currently has an average rating of "Moderate Buy" and an average price target of $401.67.

CyberArk Software Price Performance

CYBR stock traded down $3.55 during trading on Friday, hitting $409.76. 840,576 shares of the company traded hands, compared to its average volume of 572,654. The stock's 50-day simple moving average is $349.78 and its 200 day simple moving average is $309.64. The company has a market cap of $17.85 billion, a PE ratio of 1,517.69 and a beta of 1.15. CyberArk Software has a 1 year low of $223.09 and a 1 year high of $421.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share 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%. Research analysts expect that CyberArk Software will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC raised its holdings in shares of CyberArk Software by 16.6% in the 3rd 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 during the period. Groupama Asset Managment boosted its position 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. Jennison Associates LLC boosted its position 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. Public Employees Retirement System of Ohio acquired a new position in shares of CyberArk Software during the 3rd quarter worth about $8,612,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of CyberArk Software in the 3rd quarter valued at about $82,485,000. Hedge funds and other 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.