CyberArk Software (NASDAQ:CYBR) PT Raised to $315.00

CyberArk Software (NASDAQ:CYBR) had its target price boosted by stock analysts at Robert W. Baird from $295.00 to $315.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s target price would suggest a potential upside of 15.08% from the stock’s previous close.

CYBR has been the subject of several other reports. Needham & Company LLC reiterated a “buy” rating and set a $310.00 target price on shares of CyberArk Software in a research note on Monday, May 20th. Barclays increased their target price on shares of CyberArk Software from $280.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Canaccord Genuity Group cut their price target on CyberArk Software from $300.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. JMP Securities restated a “market outperform” rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Monday, June 17th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $290.83.

CyberArk Software Trading Up 3.8 %

CYBR traded up $10.13 during midday trading on Friday, reaching $273.72. The company’s stock had a trading volume of 934,482 shares, compared to its average volume of 555,036. The company has a fifty day simple moving average of $258.55 and a 200 day simple moving average of $252.74. The stock has a market cap of $11.57 billion, a P/E ratio of -427.69 and a beta of 1.14. CyberArk Software has a twelve month low of $148.01 and a twelve month high of $284.10.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently made changes to their positions in the business. Jennison Associates LLC boosted its position in CyberArk Software by 81.4% during the fourth quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock valued at $230,871,000 after purchasing an additional 472,961 shares during the last quarter. Norges Bank bought a new position in shares of CyberArk Software in the 4th quarter valued at about $100,797,000. Swedbank AB acquired a new position in shares of CyberArk Software during the 1st quarter worth about $109,466,000. 1832 Asset Management L.P. raised its holdings in shares of CyberArk Software by 1,291.7% in the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after purchasing an additional 358,602 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in CyberArk Software in the 1st quarter valued at about $67,736,000. 91.84% of the stock is owned by institutional investors.

CyberArk Software Company Profile

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.