CyberArk Software (NASDAQ:CYBR) Receives “Buy” Rating from Truist Financial

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating restated by equities researchers at Truist Financial in a research note issued on Thursday,Benzinga reports. They presently have a $350.00 target price on the technology company’s stock, up from their previous target price of $300.00. Truist Financial’s price target would indicate a potential upside of 15.30% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company upped their price target on CyberArk Software from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday. DA Davidson lifted their target price 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. Mizuho upped their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Royal Bank of Canada began coverage on shares of CyberArk Software in a research note on Friday, September 20th. They issued an “outperform” rating and a $328.00 price objective for the company. Finally, Jefferies Financial Group increased their target price on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and an average target price of $327.26.

CyberArk Software Stock Up 4.1 %

CYBR traded up $11.94 during trading on Thursday, hitting $303.55. 204,937 shares of the company traded hands, compared to its average volume of 520,997. CyberArk Software has a one year low of $183.28 and a one year high of $318.16. The stock’s fifty day moving average is $283.33 and its 200 day moving average is $266.24. The firm has a market cap of $13.23 billion, a P/E ratio of -948.59 and a beta of 1.13.

Hedge Funds Weigh In On CyberArk Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Mather Group LLC. purchased a new stake in CyberArk Software during the second quarter valued at about $27,000. ORG Partners LLC bought a new position in CyberArk Software during the 2nd quarter worth approximately $33,000. 1620 Investment Advisors Inc. purchased a new position in CyberArk Software in the 2nd quarter worth approximately $39,000. Assetmark Inc. lifted its position in CyberArk Software by 1,025.0% in the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after purchasing an additional 123 shares during the last quarter. Finally, Arcadia Investment Management Corp MI boosted its stake in shares of CyberArk Software by 42.2% during 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. Institutional investors 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.