Truist Financial Reiterates Buy Rating for CyberArk Software (NASDAQ:CYBR)

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reissued by equities research analysts at Truist Financial in a note issued to investors on Thursday,Benzinga reports. They presently have a $350.00 target price on the technology company’s stock, up from their previous target price of $300.00. Truist Financial’s target price suggests a potential upside of 14.65% from the company’s previous close.

CYBR has been the topic of several other research reports. Canaccord Genuity Group upped their price objective on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their target price on CyberArk Software from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup increased their price target on CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 9th. JMP Securities raised their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a report on Thursday. Finally, Royal Bank of Canada started coverage on CyberArk Software in a report on Friday, September 20th. They set an “outperform” rating and a $328.00 price target for the company. One investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Stock Performance

CyberArk Software stock opened at $305.27 on Thursday. CyberArk Software has a fifty-two week low of $183.28 and a fifty-two week high of $318.16. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 1,130.67 and a beta of 1.13. The stock’s 50 day simple moving average is $284.25 and its two-hundred day simple moving average is $266.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mather Group LLC. purchased a new position in shares of CyberArk Software during the 2nd quarter worth about $27,000. ORG Partners LLC bought a new position in CyberArk Software in the 2nd quarter valued at $33,000. 1620 Investment Advisors Inc. bought a new position in CyberArk Software in the 2nd quarter valued at $39,000. Assetmark Inc. increased its stake in CyberArk Software by 1,025.0% in the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after purchasing an additional 123 shares during the period. Finally, Arcadia Investment Management Corp MI lifted its position in shares of CyberArk Software by 42.2% during the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other 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.