Canaccord Genuity Group Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price upped by Canaccord Genuity Group from $330.00 to $440.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other analysts have also issued research reports about the company. JMP Securities reiterated a “market outperform” rating and issued a $360.00 price target on shares of CyberArk Software in a report on Tuesday, January 14th. DA Davidson boosted their price target on CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. boosted their price target on CyberArk Software from $375.00 to $431.00 and gave the company an “overweight” rating in a report on Tuesday. Piper Sandler boosted their price target on CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Mizuho upped their target price on CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $401.67.

CyberArk Software Stock Performance

CYBR opened at $413.31 on Friday. The stock has a market cap of $18.01 billion, a price-to-earnings ratio of 1,530.83 and a beta of 1.15. The stock’s 50 day moving average price is $346.11 and its 200-day moving average price is $306.73. CyberArk Software has a one year low of $223.09 and a one year high of $419.49.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. As a group, 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 hedge funds have recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its stake in shares of CyberArk Software by 79.1% during the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after acquiring an additional 34 shares in the last quarter. CenterBook Partners LP lifted its stake in CyberArk Software by 2.4% in the 4th quarter. CenterBook Partners LP now owns 1,603 shares of the technology company’s stock valued at $534,000 after buying an additional 38 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after buying an additional 42 shares in the last quarter. Montag A & Associates Inc. lifted its stake in CyberArk Software by 47.2% in the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after buying an additional 42 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in CyberArk Software by 2.5% in the 3rd quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after buying an additional 45 shares in the last quarter. 91.84% of the stock is 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.