CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price objective increased by investment analysts at Royal Bank of Canada from $328.00 to $358.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 17.27% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $335.00 price objective on shares of CyberArk Software in a research report on Thursday. Canaccord Genuity Group upped their price target on CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a report on Thursday. Scotiabank began coverage on shares of CyberArk Software in a research report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price objective for the company. Stifel Nicolaus increased their target price on shares of CyberArk Software from $306.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. Finally, DA Davidson lifted 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. One investment analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, CyberArk Software has an average rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Trading Up 1.3 %

Shares of CYBR stock opened at $305.27 on Thursday. The company has a market cap of $13.30 billion, a P/E ratio of 1,130.67 and a beta of 1.13. The firm has a fifty day moving average price of $284.25 and a 200 day moving average price of $266.66. CyberArk Software has a 12 month low of $183.28 and a 12 month high of $318.16.

Hedge Funds Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently modified their holdings of the company. Mather Group LLC. acquired a new position in CyberArk Software during the second quarter valued at approximately $27,000. ORG Partners LLC acquired a new position in shares of CyberArk Software during the 2nd quarter valued at $33,000. 1620 Investment Advisors Inc. purchased a new stake in CyberArk Software during the 2nd quarter worth $39,000. Assetmark Inc. increased its holdings in CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after purchasing an additional 123 shares in the last quarter. Finally, Arcadia Investment Management Corp MI raised its position in CyberArk Software by 42.2% in the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after purchasing an additional 54 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.