CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price objective increased by equities research analysts at Canaccord Genuity Group from $310.00 to $330.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 8.10% from the company’s previous close.

A number of other equities analysts also recently commented on CYBR. Rosenblatt Securities restated a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a research note on Tuesday, August 6th. Barclays raised their price objective on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group upped their target price on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday. Scotiabank started coverage on CyberArk Software in a research report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price target on the stock. Finally, Piper Sandler lifted their price objective on CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Trading Up 1.3 %

NASDAQ CYBR opened at $305.27 on Thursday. The stock has a market cap of $13.30 billion, a PE ratio of 1,130.67 and a beta of 1.13. CyberArk Software has a 12 month low of $183.28 and a 12 month high of $318.16. The company’s 50-day moving average price is $284.25 and its 200-day moving average price is $266.66.

Institutional Trading of CyberArk Software

Institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its holdings in shares of CyberArk Software by 28.0% in the first quarter. Oppenheimer & Co. Inc. now owns 1,695 shares of the technology company’s stock worth $450,000 after buying an additional 371 shares during the last quarter. Russell Investments Group Ltd. raised its stake in CyberArk Software by 58.3% in the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock worth $8,830,000 after acquiring an additional 12,242 shares during the last quarter. US Bancorp DE lifted its position in CyberArk Software by 3.6% during the 1st quarter. US Bancorp DE now owns 10,220 shares of the technology company’s stock worth $2,715,000 after acquiring an additional 353 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in CyberArk Software by 17.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,573 shares of the technology company’s stock valued at $5,996,000 after purchasing an additional 3,349 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of CyberArk Software by 15.2% in the first quarter. Blair William & Co. IL now owns 14,515 shares of the technology company’s stock valued at $3,856,000 after purchasing an additional 1,919 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.