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

CyberArk Software (NASDAQ:CYBR) had its price objective hoisted by analysts at KeyCorp from $340.00 to $355.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target would indicate a potential upside of 21.74% from the stock’s current price.

A number of other analysts have also issued reports on CYBR. Barclays lifted their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Cantor Fitzgerald boosted their price objective on shares of CyberArk Software from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Needham & Company LLC restated a “buy” rating and set a $310.00 target price on shares of CyberArk Software in a research note on Friday, August 9th. Jefferies Financial Group boosted their price target on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Oppenheimer raised their price objective on CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $316.19.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $291.61 on Thursday. The business’s 50-day simple moving average is $283.33 and its 200 day simple moving average is $266.24. The company has a market cap of $12.71 billion, a P/E ratio of -911.28 and a beta of 1.13. CyberArk Software has a one year low of $183.28 and a one year high of $318.16.

Institutional Investors Weigh In On CyberArk Software

Several large investors have recently added to or reduced their stakes in CYBR. Swedbank AB bought a new position in shares of CyberArk Software during the first quarter worth about $109,466,000. 1832 Asset Management L.P. grew 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 worth $102,630,000 after purchasing an additional 358,602 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of CyberArk Software in the third quarter valued at approximately $82,485,000. Anomaly Capital Management LP bought a new stake in shares of CyberArk Software during the second quarter valued at approximately $49,145,000. Finally, Clearbridge Investments LLC boosted its position in shares of CyberArk Software by 250.0% during the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after buying an additional 160,269 shares during the period. 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.