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

CyberArk Software (NASDAQ:CYBR) had its target price lifted by equities research analysts at UBS Group from $340.00 to $360.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. UBS Group’s target price indicates a potential upside of 17.93% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Friday, August 9th. Scotiabank started coverage on CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 target price on the stock. Susquehanna lifted their price target on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a report on Thursday. Jefferies Financial Group increased their price objective on CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, JMP Securities raised their target price on CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Price Performance

CYBR stock opened at $305.27 on Thursday. CyberArk Software has a 1 year low of $183.28 and a 1 year high of $318.16. The firm has a market capitalization of $13.30 billion, a P/E ratio of 1,130.67 and a beta of 1.13. The business’s 50-day moving average is $284.25 and its two-hundred day moving average is $266.66.

Institutional Investors Weigh In On CyberArk Software

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in 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 position in CyberArk Software during the first quarter worth about $2,741,000. Price T Rowe Associates Inc. MD lifted its position in CyberArk Software by 715.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock valued at $14,946,000 after purchasing an additional 49,360 shares during the period. Ensign Peak Advisors Inc acquired a new position in CyberArk Software during the 2nd quarter worth approximately $711,000. Finally, 1832 Asset Management L.P. increased its position 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.