Stifel Nicolaus Boosts CyberArk Software (NASDAQ:CYBR) Price Target to $335.00

CyberArk Software (NASDAQ:CYBR) had its target price upped by Stifel Nicolaus from $306.00 to $335.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other research firms also recently commented on CYBR. Wedbush lifted their price objective on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. BTIG Research boosted their price target on CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $335.00 price objective on shares of CyberArk Software in a research note on Thursday. UBS Group boosted their target price on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Susquehanna boosted their price objective on CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Stock Performance

CYBR stock traded up $2.51 on Thursday, reaching $303.79. The company’s stock had a trading volume of 494,735 shares, compared to its average volume of 523,930. The business has a fifty day simple moving average of $283.62 and a two-hundred day simple moving average of $266.42. CyberArk Software has a 12-month low of $183.28 and a 12-month high of $318.16. The firm has a market cap of $13.24 billion, a PE ratio of 1,111.15 and a beta of 1.13.

Institutional Investors Weigh In On CyberArk Software

Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in shares of CyberArk Software by 58.3% in the 1st 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. Quadrature Capital Ltd purchased a new stake in shares of CyberArk Software in the 1st quarter valued at $2,741,000. Price T Rowe Associates Inc. MD raised its holdings in shares of CyberArk Software by 715.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock valued at $14,946,000 after buying an additional 49,360 shares during the period. Ensign Peak Advisors Inc purchased a new stake in CyberArk Software during the 2nd quarter worth about $711,000. Finally, 1832 Asset Management L.P. increased its holdings in CyberArk Software by 1,291.7% during 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 period. 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.