CyberArk Software (NASDAQ:CYBR - Get Free Report) had its target price upped by stock analysts at UBS Group from $340.00 to $360.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. UBS Group's price target would suggest a potential upside of 20.52% from the company's previous close.
Several other research analysts also recently commented on CYBR. Cantor Fitzgerald raised their target price on CyberArk Software from $300.00 to $335.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. DA Davidson lifted their price objective on CyberArk Software from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, August 9th. KeyCorp upped their price objective on shares of CyberArk Software from $340.00 to $355.00 and gave the company an "overweight" rating in a research note on Thursday. Scotiabank started coverage on shares of CyberArk Software in a research report on Monday, October 21st. They set a "sector outperform" rating and a $340.00 price target for the company. Finally, Jefferies Financial Group upped their price objective on CyberArk Software from $315.00 to $330.00 and gave the company a "buy" rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, CyberArk Software has a consensus rating of "Moderate Buy" and an average target price of $323.56.
View Our Latest Stock Report on CyberArk Software
Shares of CyberArk Software stock traded up $7.09 on Thursday, hitting $298.70. The company had a trading volume of 122,880 shares, compared to its average volume of 520,451. CyberArk Software has a 1 year low of $183.28 and a 1 year high of $318.16. The stock has a 50 day moving average of $283.33 and a 200-day moving average of $266.24. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of -925.06 and a beta of 1.13.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CYBR. Financial Counselors Inc. bought a new position in CyberArk Software during the third quarter valued at about $218,000. Public Sector Pension Investment Board boosted its holdings in CyberArk Software by 25.3% during the third quarter. Public Sector Pension Investment Board now owns 22,294 shares of the technology company's stock valued at $6,501,000 after acquiring an additional 4,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CyberArk Software by 3.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,725 shares of the technology company's stock valued at $9,543,000 after acquiring an additional 1,232 shares during the period. MetLife Investment Management LLC increased its stake in shares of CyberArk Software by 5.4% in the third quarter. MetLife Investment Management LLC now owns 3,900 shares of the technology company's stock worth $1,137,000 after purchasing an additional 200 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of CyberArk Software during the 3rd quarter worth about $2,245,000. Institutional investors own 91.84% of the company's stock.
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.
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