CyberArk Software (NASDAQ:CYBR) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $310.00 target price on the technology company’s stock.

Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of CyberArk Software from $250.00 to $275.00 and gave the stock an overweight rating in a report on Monday, January 29th. Mizuho upped their target price on shares of CyberArk Software from $250.00 to $310.00 and gave the company a buy rating in a report on Friday, February 9th. Rosenblatt Securities reaffirmed a buy rating and set a $310.00 target price on shares of CyberArk Software in a report on Wednesday, May 1st. KeyCorp upped their target price on shares of CyberArk Software from $274.00 to $305.00 and gave the company an overweight rating in a report on Friday, February 9th. Finally, Susquehanna upped their target price on shares of CyberArk Software from $255.00 to $310.00 and gave the company a positive rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, CyberArk Software currently has a consensus rating of Moderate Buy and an average target price of $266.04.

CyberArk Software Price Performance

NASDAQ:CYBR opened at $244.52 on Monday. CyberArk Software has a one year low of $142.92 and a one year high of $283.00. The company’s 50-day simple moving average is $248.86 and its 200 day simple moving average is $233.13. The firm has a market capitalization of $10.33 billion, a P/E ratio of -382.06 and a beta of 1.06.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Swedbank AB purchased a new stake in shares of CyberArk Software in the first quarter valued at $109,466,000. iA Global Asset Management Inc. purchased a new position in CyberArk Software in the 1st quarter worth about $4,428,000. Hancock Whitney Corp purchased a new position in CyberArk Software in the 1st quarter worth about $231,000. Castleark Management LLC increased its stake in CyberArk Software by 2.0% in the 1st quarter. Castleark Management LLC now owns 31,560 shares of the technology company’s stock worth $8,383,000 after buying an additional 630 shares during the period. Finally, Tidal Investments LLC increased its stake in CyberArk Software by 1,702.0% in the 1st quarter. Tidal Investments LLC now owns 33,787 shares of the technology company’s stock worth $8,975,000 after buying an additional 31,912 shares during the period. 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.