CyberArk Software (NASDAQ:CYBR) Price Target Raised to $360.00

CyberArk Software (NASDAQ:CYBR) had its price target lifted by JMP Securities from $310.00 to $360.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a market outperform rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on CYBR. Jefferies Financial Group boosted their price objective on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Scotiabank began coverage on CyberArk Software in a research note on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price target for the company. KeyCorp upped their price objective on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada began coverage on CyberArk Software in a report on Friday, September 20th. They set an “outperform” rating and a $328.00 target price for the company. Finally, Citigroup upped their price target on shares of CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Stock Performance

Shares of CYBR stock opened at $305.27 on Thursday. CyberArk Software has a 52 week low of $183.28 and a 52 week high of $318.16. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 1,130.67 and a beta of 1.13. The company has a 50-day simple moving average of $285.06 and a 200 day simple moving average of $267.09.

Institutional Trading of CyberArk Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CYBR. Oppenheimer & Co. Inc. boosted its stake in shares of CyberArk Software by 28.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 1,695 shares of the technology company’s stock valued at $450,000 after purchasing an additional 371 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in CyberArk Software by 58.3% in the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after buying an additional 12,242 shares during the period. US Bancorp DE boosted its position in CyberArk Software by 3.6% during the first quarter. US Bancorp DE now owns 10,220 shares of the technology company’s stock valued at $2,715,000 after acquiring an additional 353 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in CyberArk Software by 17.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,573 shares of the technology company’s stock worth $5,996,000 after acquiring an additional 3,349 shares during the period. Finally, Blair William & Co. IL grew its holdings in CyberArk Software by 15.2% during the 1st quarter. Blair William & Co. IL now owns 14,515 shares of the technology company’s stock worth $3,856,000 after acquiring an additional 1,919 shares during the period. 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.