CyberArk Software (NASDAQ:CYBR) Price Target Raised to $355.00

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by KeyCorp from $340.00 to $355.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other analysts have also recently weighed in on the company. DA Davidson increased their price target on CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald increased their price objective on CyberArk Software from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Scotiabank began coverage on CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective for the company. Jefferies Financial Group increased their price objective on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Robert W. Baird increased their price objective on CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Stock Performance

Shares of CyberArk Software stock traded up $2.51 on Thursday, reaching $303.79. 494,735 shares of the company were exchanged, compared to its average volume of 523,930. The company’s 50-day moving average is $283.62 and its two-hundred day moving average is $266.42. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of 1,111.15 and a beta of 1.13. CyberArk Software has a 1-year low of $183.28 and a 1-year high of $318.16.

Institutional Trading of CyberArk Software

A number of hedge funds have recently modified their holdings of the business. Stifel Financial Corp lifted its holdings in shares of CyberArk Software by 8.1% in the third quarter. Stifel Financial Corp now owns 55,507 shares of the technology company’s stock valued at $16,186,000 after purchasing an additional 4,156 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of CyberArk Software in the third quarter valued at $1,102,000. Quantinno Capital Management LP lifted its holdings in shares of CyberArk Software by 4.9% in the third quarter. Quantinno Capital Management LP now owns 1,553 shares of the technology company’s stock valued at $453,000 after purchasing an additional 73 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of CyberArk Software by 1.8% during the third quarter. IHT Wealth Management LLC now owns 3,539 shares of the technology company’s stock worth $1,031,000 after acquiring an additional 61 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its holdings in shares of CyberArk Software by 55.5% during the third quarter. Investment Management Corp of Ontario now owns 1,401 shares of the technology company’s stock worth $409,000 after acquiring an additional 500 shares in the last quarter. 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.