CyberArk Software (NASDAQ:CYBR) Price Target Raised to $345.00

CyberArk Software (NASDAQ:CYBR) had its target price upped by Susquehanna from $320.00 to $345.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a positive rating on the technology company’s stock.

Several other brokerages have also recently issued reports on CYBR. Mizuho upped their target price on CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Rosenblatt Securities restated a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a report on Tuesday, August 6th. Oppenheimer upped their target price on CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. BTIG Research upped their target price on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Wedbush upped their target price on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, CyberArk Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Price Performance

NASDAQ CYBR traded up $2.51 during mid-day trading on Thursday, hitting $303.79. The stock had a trading volume of 494,735 shares, compared to its average volume of 523,930. The firm’s 50 day moving average is $283.62 and its 200 day moving average is $266.42. CyberArk Software has a twelve month low of $183.28 and a twelve month high of $318.16. The stock has a market capitalization of $13.24 billion, a price-to-earnings ratio of 1,111.15 and a beta of 1.13.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in CyberArk Software by 58.3% during the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock worth $8,830,000 after buying an additional 12,242 shares during the last quarter. Quadrature Capital Ltd purchased a new position in CyberArk Software during the 1st quarter worth approximately $2,741,000. Price T Rowe Associates Inc. MD grew its stake in CyberArk Software by 715.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock worth $14,946,000 after buying an additional 49,360 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in CyberArk Software during the 2nd quarter worth approximately $711,000. Finally, 1832 Asset Management L.P. grew its stake in CyberArk Software by 1,291.7% during the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock worth $102,630,000 after buying an additional 358,602 shares during the last quarter. Hedge funds and other 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.