CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Piper Sandler Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price target raised by equities research analysts at Piper Sandler from $300.00 to $345.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s target price suggests a potential upside of 18.31% from the company’s previous close.

Other analysts have also recently issued reports about the company. JMP Securities reissued a “market outperform” rating and set a $310.00 price objective on shares of CyberArk Software in a report on Monday, November 4th. Robert W. Baird boosted their price target on shares of CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. BTIG Research increased their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Scotiabank started coverage on shares of CyberArk Software in a report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 target price for the company. Finally, Citigroup upped their target price on shares of CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $316.19.

CyberArk Software Stock Performance

NASDAQ CYBR opened at $291.61 on Thursday. The stock has a market capitalization of $12.71 billion, a P/E ratio of -911.28 and a beta of 1.13. CyberArk Software has a 52 week low of $183.28 and a 52 week high of $318.16. The stock has a fifty day moving average of $283.33 and a 200-day moving average of $266.24.

Institutional Investors Weigh In On CyberArk Software

Institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB bought a new stake in shares of CyberArk Software in the first quarter valued at about $109,466,000. 1832 Asset Management L.P. raised its position in CyberArk Software by 1,291.7% in the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after buying an additional 358,602 shares during the last quarter. International Assets Investment Management LLC bought a new stake in CyberArk Software in the 3rd quarter valued at approximately $82,485,000. Anomaly Capital Management LP acquired a new position in CyberArk Software during the 2nd quarter worth approximately $49,145,000. Finally, Clearbridge Investments LLC grew its stake in shares of CyberArk Software by 250.0% during the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after acquiring an additional 160,269 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

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.