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

CyberArk Software (NASDAQ:CYBR) had its price objective raised by Susquehanna from $320.00 to $345.00 in a report published on Thursday,Benzinga reports. They currently have a positive rating on the technology company’s stock.

A number of other research firms also recently weighed in on CYBR. Needham & Company LLC restated a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a report on Friday, August 9th. Citigroup raised their target price on CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 9th. Wedbush upped their price target on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Cantor Fitzgerald raised their price objective on CyberArk Software from $300.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird boosted their target price on CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Stock Performance

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 stock’s 50 day moving average price is $285.06 and its 200 day moving average price is $267.09. CyberArk Software has a 52 week low of $183.28 and a 52 week high of $318.16.

Hedge Funds Weigh In On CyberArk Software

Several large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in shares of CyberArk Software by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after purchasing an additional 9,570 shares in the last quarter. Groupama Asset Managment lifted its position in CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the period. RGM Capital LLC boosted its stake in CyberArk Software by 2.1% during the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock worth $222,599,000 after buying an additional 16,530 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in CyberArk Software by 3.3% in the 3rd quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock valued at $134,422,000 after buying an additional 14,927 shares during the period. Finally, Swedbank AB increased its holdings in CyberArk Software by 11.1% in the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after buying an additional 45,799 shares during the period. Institutional investors and hedge funds 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.