CyberArk Software (NASDAQ:CYBR) Price Target Raised to $330.00 at Canaccord Genuity Group

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by Canaccord Genuity Group from $310.00 to $330.00 in a research report released on Thursday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

CYBR has been the topic of several other reports. Wedbush boosted their target price on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada assumed coverage on shares of CyberArk Software in a research report on Friday, September 20th. They set an “outperform” rating and a $328.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a research note on Tuesday, August 6th. Stifel Nicolaus lifted their price target on CyberArk Software from $306.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Robert W. Baird lifted their price target on CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One equities 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Stock Performance

CYBR stock traded up $1.32 during midday trading on Thursday, reaching $302.60. 474,658 shares of the company were exchanged, compared to its average volume of 523,840. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 1,111.15 and a beta of 1.13. The stock’s 50-day simple moving average is $283.62 and its 200 day simple moving average is $266.42. CyberArk Software has a 1-year low of $183.28 and a 1-year high of $318.16.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently made changes to their positions in CYBR. Greenleaf Trust grew its holdings in CyberArk Software by 2.5% during the 3rd quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after purchasing an additional 45 shares during the last quarter. Signaturefd LLC grew its position in shares of CyberArk Software by 4.2% in the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after purchasing an additional 49 shares during the period. Austin Private Wealth LLC boosted its position in CyberArk Software by 6.8% during the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock worth $238,000 after acquiring an additional 52 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in CyberArk Software by 42.2% in the 2nd 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 last quarter. Finally, Juncture Wealth Strategies LLC increased its stake in CyberArk Software by 2.1% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after buying an additional 57 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.