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

CyberArk Software (NASDAQ:CYBR) had its target price raised by Susquehanna from $320.00 to $345.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “positive” rating on the technology company’s stock. Susquehanna’s target price suggests a potential upside of 13.01% from the stock’s current price.

A number of other equities analysts also recently weighed in on CYBR. Cantor Fitzgerald upped their target price on CyberArk Software from $300.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. KeyCorp boosted their price objective on shares of CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday. Robert W. Baird increased their target price on shares of CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada started coverage on shares of CyberArk Software in a report on Friday, September 20th. They set an “outperform” rating and a $328.00 price target on the stock. Finally, DA Davidson increased their price objective on CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Trading Up 1.3 %

Shares of CYBR stock opened at $305.27 on Thursday. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 1,130.67 and a beta of 1.13. CyberArk Software has a 1-year low of $183.28 and a 1-year high of $318.16. The stock’s fifty day simple moving average is $284.25 and its 200-day simple moving average is $266.66.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CYBR. Jennison Associates LLC increased its position in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares during the period. Groupama Asset Managment increased its holdings in shares of CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the period. RGM Capital LLC lifted its stake in shares of CyberArk Software by 2.1% in the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after buying an additional 16,530 shares during the period. Whale Rock Capital Management LLC grew its position in CyberArk Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after buying an additional 14,927 shares in the last quarter. Finally, Swedbank AB increased its stake in CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after acquiring an additional 45,799 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.