CyberArk Software (NASDAQ:CYBR) Price Target Raised to $330.00

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by analysts at Canaccord Genuity Group from $310.00 to $330.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 8.71% from the stock’s previous close.

CYBR has been the subject of several other reports. Wedbush raised their price target on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $335.00 target price on shares of CyberArk Software in a research note on Thursday. DA Davidson upped their price target on shares of CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. UBS Group lifted their price objective on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday. Finally, KeyCorp boosted their target price on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $327.26.

CyberArk Software Price Performance

CyberArk Software stock traded up $11.94 during midday trading on Thursday, reaching $303.55. The stock had a trading volume of 204,937 shares, compared to its average volume of 520,997. The firm’s fifty day simple moving average is $283.33 and its two-hundred day simple moving average is $266.24. CyberArk Software has a twelve month low of $183.28 and a twelve month high of $318.16. The firm has a market cap of $13.23 billion, a price-to-earnings ratio of -948.59 and a beta of 1.13.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position 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 worth $8,830,000 after acquiring an additional 12,242 shares during the period. Quadrature Capital Ltd acquired a new position in shares of CyberArk Software in the 1st quarter valued at $2,741,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of CyberArk Software by 715.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock worth $14,946,000 after acquiring an additional 49,360 shares during the period. Ensign Peak Advisors Inc acquired a new stake in shares of CyberArk Software during the 2nd quarter valued at about $711,000. Finally, 1832 Asset Management L.P. raised its position in CyberArk Software by 1,291.7% in the first 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 in the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

About CyberArk Software

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.