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

CyberArk Software (NASDAQ:CYBR) had its target price hoisted by equities research analysts at Royal Bank of Canada from $328.00 to $358.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 17.27% from the stock’s previous close.

Other analysts have also issued reports about the company. UBS Group lifted their target price on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on CyberArk Software from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler increased their target price on CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird lifted their price target on shares of CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, JMP Securities increased their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Price Performance

CyberArk Software stock opened at $305.27 on Thursday. CyberArk Software has a 12-month low of $183.28 and a 12-month high of $318.16. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 1,130.67 and a beta of 1.13. The firm’s fifty day moving average price is $284.25 and its 200 day moving average price is $266.66.

Institutional Trading of CyberArk Software

Several large investors have recently added to or reduced their stakes in CYBR. Mather Group LLC. bought a new position in shares of CyberArk Software in the second quarter worth $27,000. ORG Partners LLC acquired a new stake in CyberArk Software in the second quarter worth about $33,000. 1620 Investment Advisors Inc. bought a new position in CyberArk Software in the 2nd quarter valued at about $39,000. Assetmark Inc. increased its stake in CyberArk Software by 1,025.0% during the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after buying an additional 123 shares during the period. Finally, Arcadia Investment Management Corp MI increased its stake in CyberArk Software by 42.2% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after buying an additional 54 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.