CyberArk Software (NASDAQ:CYBR) Price Target Raised to $345.00

CyberArk Software (NASDAQ:CYBR) had its price objective lifted by Piper Sandler from $300.00 to $345.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other analysts have also issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a research report on Friday, August 9th. Cantor Fitzgerald raised their price objective on CyberArk Software from $300.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Scotiabank started coverage on shares of CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 target price for the company. Oppenheimer lifted their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada assumed coverage on shares of CyberArk Software in a research report on Friday, September 20th. They issued an “outperform” rating and a $328.00 target price on the stock. One research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Stock Performance

NASDAQ:CYBR opened at $305.27 on Thursday. The company has a market cap of $13.30 billion, a price-to-earnings ratio of 1,130.67 and a beta of 1.13. CyberArk Software has a fifty-two week low of $183.28 and a fifty-two week high of $318.16. The stock has a fifty day moving average price of $285.06 and a 200-day moving average price of $267.09.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CYBR. Greenleaf Trust boosted its position in shares of CyberArk Software by 2.5% during the 3rd quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after purchasing an additional 45 shares in the last quarter. Signaturefd LLC lifted its stake in CyberArk Software by 4.2% in the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after buying an additional 49 shares during the period. Austin Private Wealth LLC boosted its holdings in shares of CyberArk Software by 6.8% during the 3rd quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock worth $238,000 after buying an additional 52 shares in the last quarter. Arcadia Investment Management Corp MI grew its position in shares of CyberArk Software by 42.2% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after buying an additional 54 shares during the period. Finally, Juncture Wealth Strategies LLC increased its stake in shares of CyberArk Software by 2.1% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock valued at $825,000 after acquiring an additional 57 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.