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

Truist Financial reissued their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report report published on Thursday morning,Benzinga reports. Truist Financial currently has a $350.00 target price on the technology company’s stock, up from their previous target price of $300.00.

Several other analysts also recently commented on CYBR. Susquehanna raised their target price on CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research note on Thursday. Jefferies Financial Group lifted their price target on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. BTIG Research lifted their price target 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. Mizuho lifted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their target price on shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Stock Performance

Shares of CYBR traded up $1.32 during trading hours on Thursday, reaching $302.60. The stock had a trading volume of 474,658 shares, compared to its average volume of 523,840. CyberArk Software has a 12 month low of $183.28 and a 12 month high of $318.16. The stock has a market capitalization of $13.18 billion, a PE ratio of 1,111.15 and a beta of 1.13. The company’s 50-day moving average is $283.62 and its two-hundred day moving average is $266.42.

Hedge Funds Weigh In On CyberArk Software

Institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its stake in shares of CyberArk Software by 28.0% during the first quarter. Oppenheimer & Co. Inc. now owns 1,695 shares of the technology company’s stock valued at $450,000 after purchasing an additional 371 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of CyberArk Software by 58.3% during the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after buying an additional 12,242 shares during the last quarter. US Bancorp DE grew its holdings in shares of CyberArk Software by 3.6% during the first quarter. US Bancorp DE now owns 10,220 shares of the technology company’s stock valued at $2,715,000 after buying an additional 353 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of CyberArk Software by 17.4% during the first 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 during the last quarter. Finally, Blair William & Co. IL boosted its holdings 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 worth $3,856,000 after purchasing an additional 1,919 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

CyberArk Software Company Profile

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.