Bank of America upgraded shares of Cyberark Software (NASDAQ:CYBR) from a neutral rating to a buy rating in a research note published on Friday, MarketBeat Ratings reports. The brokerage currently has $55.63 target price on the technology company’s stock, up from their prior target price of $39.34.
Other equities research analysts have also recently issued reports about the stock. Piper Jaffray Companies reissued a buy rating and issued a $53.00 price objective on shares of Cyberark Software in a research note on Friday, February 16th. Evercore ISI reissued a buy rating on shares of Cyberark Software in a research note on Thursday, February 15th. UBS Group raised shares of Cyberark Software from a neutral rating to a buy rating and increased their price objective for the company from $50.00 to $58.00 in a research note on Tuesday, February 20th. BidaskClub raised shares of Cyberark Software from a hold rating to a buy rating in a research note on Friday, February 23rd. Finally, Needham & Company LLC reissued a buy rating and issued a $57.00 price objective (up from $55.00) on shares of Cyberark Software in a research note on Wednesday, March 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Cyberark Software currently has a consensus rating of Buy and a consensus target price of $51.89.
Shares of Cyberark Software (CYBR) opened at $50.99 on Friday. The company has a market cap of $1,771.47, a PE ratio of 78.45, a P/E/G ratio of 5.89 and a beta of 2.12. Cyberark Software has a 12 month low of $39.34 and a 12 month high of $55.63.
Several institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP boosted its stake in shares of Cyberark Software by 414.3% during the 4th quarter. Two Sigma Investments LP now owns 165,632 shares of the technology company’s stock worth $6,856,000 after purchasing an additional 133,428 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Cyberark Software during the 4th quarter worth about $803,000. Goldman Sachs Group Inc. boosted its stake in shares of Cyberark Software by 7.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 40,144 shares of the technology company’s stock worth $1,662,000 after purchasing an additional 2,795 shares during the last quarter. Jefferies Group LLC acquired a new stake in shares of Cyberark Software during the 4th quarter worth about $829,000. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in shares of Cyberark Software by 18.1% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,389,765 shares of the technology company’s stock worth $57,522,000 after acquiring an additional 213,302 shares during the period. 76.68% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “Cyberark Software (CYBR) Upgraded to Buy at Bank of America” was originally published by BBNS and is owned by of BBNS. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://baseballnewssource.com/2018/03/12/cyberark-software-cybr-upgraded-to-buy-at-bank-of-america/2015443.html.
About Cyberark Software
CyberArk Software Ltd is an Israel-based provider of information technology (IT) security solutions that protects organizations from cyber-attacks. The Company’s software solutions are focused on protecting privileged accounts, which have become a critical target in the lifecycle of cyber-attacks. The Company’s Privileged Account Security Solution consists of various products, such as Shares Technology Platform, Enterprise Password Vault, SSH Key Manager, Privileged Session Manager, Privileged Threat Analytics, Application Identity Manager, CyberArk-Conjur, Endpoint Privilege Manager and On-Demand Privileges Manager.
Receive News & Ratings for Cyberark Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cyberark Software and related companies with MarketBeat.com's FREE daily email newsletter.