CyberArk Software (NASDAQ:CYBR) Price Target Raised to $345.00 at Piper Sandler

CyberArk Software (NASDAQ:CYBR) had its target price boosted by Piper Sandler from $300.00 to $345.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other research analysts also recently issued reports about the stock. Mizuho increased their target price on shares of CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wedbush raised their price objective 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. Scotiabank assumed coverage on shares of CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price objective for the company. Oppenheimer raised their price objective 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, BTIG Research raised their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $328.37.

CyberArk Software Price Performance

Shares of CyberArk Software stock traded up $2.51 on Thursday, reaching $303.79. 494,735 shares of the company traded hands, compared to its average volume of 523,930. CyberArk Software has a 52 week low of $183.28 and a 52 week high of $318.16. The company has a 50 day moving average of $283.62 and a 200 day moving average of $266.42. The firm has a market capitalization of $13.24 billion, a PE ratio of 1,111.15 and a beta of 1.13.

Institutional Investors Weigh In On CyberArk Software

A number of large investors have recently modified their holdings of the stock. Stifel Financial Corp boosted its stake in shares of CyberArk Software by 8.1% during the 3rd quarter. Stifel Financial Corp now owns 55,507 shares of the technology company’s stock valued at $16,186,000 after purchasing an additional 4,156 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of CyberArk Software during the 3rd quarter valued at about $1,102,000. Quantinno Capital Management LP boosted its stake in shares of CyberArk Software by 4.9% during the 3rd quarter. Quantinno Capital Management LP now owns 1,553 shares of the technology company’s stock valued at $453,000 after purchasing an additional 73 shares in the last quarter. IHT Wealth Management LLC boosted its stake in shares of CyberArk Software by 1.8% during the 3rd quarter. IHT Wealth Management LLC now owns 3,539 shares of the technology company’s stock valued at $1,031,000 after purchasing an additional 61 shares in the last quarter. Finally, Investment Management Corp of Ontario boosted its stake in shares of CyberArk Software by 55.5% during the 3rd quarter. Investment Management Corp of Ontario now owns 1,401 shares of the technology company’s stock valued at $409,000 after purchasing an additional 500 shares in the last quarter. 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.