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

CyberArk Software (NASDAQ:CYBR) had its price target boosted by equities research analysts at Barclays from $330.00 to $335.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective points to a potential upside of 9.74% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Cantor Fitzgerald boosted their target price on shares of CyberArk Software from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. JMP Securities lifted their target price on CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a research report on Thursday. Royal Bank of Canada initiated coverage on shares of CyberArk Software in a report on Friday, September 20th. They issued an “outperform” rating and a $328.00 price target on the stock. Oppenheimer lifted their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Susquehanna upped their target price on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Trading Up 1.3 %

NASDAQ:CYBR opened at $305.27 on Thursday. The company has a market capitalization of $13.30 billion, a P/E ratio of 1,130.67 and a beta of 1.13. The business’s 50-day moving average is $284.25 and its 200 day moving average is $266.66. CyberArk Software has a 12 month low of $183.28 and a 12 month high of $318.16.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its stake in CyberArk Software by 28.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 1,695 shares of the technology company’s stock worth $450,000 after buying an additional 371 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of CyberArk Software by 58.3% during the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock worth $8,830,000 after acquiring an additional 12,242 shares during the last quarter. US Bancorp DE increased its holdings in shares of CyberArk Software by 3.6% during the first quarter. US Bancorp DE now owns 10,220 shares of the technology company’s stock valued at $2,715,000 after acquiring an additional 353 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in CyberArk Software by 17.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,573 shares of the technology company’s stock worth $5,996,000 after purchasing an additional 3,349 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in CyberArk Software by 15.2% in the 1st quarter. Blair William & Co. IL now owns 14,515 shares of the technology company’s stock worth $3,856,000 after purchasing an additional 1,919 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

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.