Wells Fargo & Company Boosts CyberArk Software (NASDAQ:CYBR) Price Target to $350.00

CyberArk Software (NASDAQ:CYBR) had its target price lifted by stock analysts at Wells Fargo & Company from $300.00 to $350.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 14.65% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. JMP Securities upped their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research note on Thursday. Royal Bank of Canada started coverage on CyberArk Software in a report on Friday, September 20th. They issued an “outperform” rating and a $328.00 target price for the company. Wedbush boosted their price target on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. KeyCorp upped their price target on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $335.00 price objective on shares of CyberArk Software in a report on Thursday. One analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Trading Up 1.3 %

Shares of NASDAQ:CYBR opened at $305.27 on Thursday. CyberArk Software has a 1-year low of $183.28 and a 1-year high of $318.16. The business’s 50 day moving average is $284.25 and its 200-day moving average is $266.66. The firm has a market capitalization of $13.30 billion, a PE ratio of 1,130.67 and a beta of 1.13.

Institutional Trading of CyberArk Software

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC boosted its stake in 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 acquiring an additional 9,570 shares during the last quarter. Groupama Asset Managment raised its holdings 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 position in shares of 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 purchasing an additional 16,530 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of 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 position in shares of 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 in the last quarter. 91.84% of the stock is owned by institutional investors.

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.