CyberArk Software (NASDAQ:CYBR - Get Free Report) had its price objective boosted by equities research analysts at Wells Fargo & Company from $300.00 to $350.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Wells Fargo & Company's price objective would indicate a potential upside of 17.17% from the company's previous close.
A number of other equities analysts have also weighed in on the stock. JMP Securities lifted their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the company a "market outperform" rating in a research report on Thursday. KeyCorp upped their target price on shares of CyberArk Software from $340.00 to $355.00 and gave the company an "overweight" rating in a research note on Thursday. Jefferies Financial Group boosted 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. Royal Bank of Canada assumed coverage on shares of CyberArk Software in a research note on Friday, September 20th. They issued an "outperform" rating and a $328.00 price target on the stock. Finally, Susquehanna boosted their price objective on CyberArk Software from $320.00 to $345.00 and gave the stock a "positive" rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $323.56.
Get Our Latest Research Report on CYBR
CYBR stock traded up $7.09 during midday trading on Thursday, hitting $298.70. The company's stock had a trading volume of 122,880 shares, compared to its average volume of 520,451. The firm has a 50-day simple moving average of $283.33 and a 200-day simple moving average of $266.24. CyberArk Software has a 52-week low of $183.28 and a 52-week high of $318.16. The firm has a market capitalization of $13.01 billion, a P/E ratio of -925.06 and a beta of 1.13.
Hedge funds have recently modified their holdings of the stock. Mather Group LLC. acquired a new position in CyberArk Software during the second quarter worth approximately $27,000. ORG Partners LLC purchased a new position in CyberArk Software during the second quarter worth $33,000. 1620 Investment Advisors Inc. purchased a new stake in CyberArk Software in the 2nd quarter worth approximately $39,000. Assetmark Inc. boosted its position in shares of CyberArk Software by 1,025.0% in the third quarter. Assetmark Inc. now owns 135 shares of the technology company's stock worth $39,000 after acquiring an additional 123 shares during the last quarter. Finally, Arcadia Investment Management Corp MI increased its stake in CyberArk Software by 42.2% during the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company's stock worth $50,000 after acquiring an additional 54 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.
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.
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