CyberArk Software (NASDAQ:CYBR) Stock Price Expected to Rise, Piper Sandler Analyst Says

CyberArk Software (NASDAQ:CYBR) had its price objective upped by Piper Sandler from $300.00 to $345.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group boosted their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Wedbush lifted their target price on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Barclays lifted their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Oppenheimer lifted their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Cantor Fitzgerald lifted their target price on shares of CyberArk Software from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, CyberArk Software has an average rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Price Performance

NASDAQ:CYBR traded up $2.51 during mid-day trading on Thursday, hitting $303.79. 494,735 shares of the company’s stock were exchanged, compared to its average volume of 523,930. CyberArk Software has a one year low of $183.28 and a one year high of $318.16. The business has a fifty day moving average price of $283.62 and a 200 day moving average price of $266.42. The company has a market cap of $13.24 billion, a PE ratio of 1,111.15 and a beta of 1.13.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds have recently modified their holdings of the company. Jennison Associates LLC boosted its position in shares of CyberArk Software by 0.8% in the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after purchasing an additional 9,570 shares during the period. RGM Capital LLC boosted its position in shares of CyberArk Software by 2.1% in 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 during the period. Whale Rock Capital Management LLC boosted its position in shares of CyberArk Software by 21.6% in the first quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock worth $122,144,000 after purchasing an additional 81,801 shares during the period. Swedbank AB boosted its position in shares of CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after acquiring an additional 45,799 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of CyberArk Software by 38.2% during the first quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock worth $107,642,000 after acquiring an additional 112,112 shares during the last quarter. 91.84% of the stock is currently 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.