Royal Bank of Canada Boosts CyberArk Software (NASDAQ:CYBR) Price Target to $358.00

CyberArk Software (NASDAQ:CYBR) had its price objective increased by Royal Bank of Canada from $328.00 to $358.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Oppenheimer lifted their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Scotiabank initiated coverage on CyberArk Software in a research report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price target for the company. UBS Group increased their price objective on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday. Barclays boosted their target price on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company increased their price target on CyberArk Software from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Price Performance

CYBR traded down $0.43 during midday trading on Thursday, hitting $300.85. 399,498 shares of the company’s stock traded hands, compared to its average volume of 523,459. The company has a market cap of $13.11 billion, a PE ratio of 1,111.15 and a beta of 1.13. The stock’s fifty day simple moving average is $283.62 and its 200-day simple moving average is $266.42. CyberArk Software has a one year low of $183.28 and a one year high of $318.16.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently bought and sold shares of the business. Oppenheimer & Co. Inc. increased its stake in CyberArk Software by 28.0% in the first quarter. Oppenheimer & Co. Inc. now owns 1,695 shares of the technology company’s stock valued at $450,000 after acquiring an additional 371 shares during the period. Russell Investments Group Ltd. grew its stake in shares of CyberArk Software by 58.3% in the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after purchasing an additional 12,242 shares during the period. US Bancorp DE lifted its position in shares of 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 buying an additional 353 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in CyberArk Software by 17.4% in 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 buying an additional 3,349 shares in the last quarter. Finally, Blair William & Co. IL grew its position in 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 acquiring an additional 1,919 shares during the period. Institutional investors own 91.84% of the company’s stock.

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.