CyberArk Software (NASDAQ:CYBR) Given New $358.00 Price Target at Royal Bank of Canada

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by Royal Bank of Canada from $328.00 to $358.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also issued reports on the stock. Jefferies Financial Group boosted their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. DA Davidson raised their target price on CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, August 9th. KeyCorp boosted their price target on CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a report on Tuesday, August 6th. Finally, UBS Group upped their price objective on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Trading Down 0.1 %

CYBR traded down $0.43 during trading on Thursday, reaching $300.85. 399,498 shares of the company were exchanged, compared to its average volume of 523,459. CyberArk Software has a 52 week low of $183.28 and a 52 week high of $318.16. The firm has a 50 day moving average of $283.62 and a 200 day moving average of $266.42. The stock has a market cap of $13.11 billion, a P/E ratio of 1,111.15 and a beta of 1.13.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds have recently bought and sold shares of the business. Jennison Associates LLC increased its holdings in shares of CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the period. RGM Capital LLC increased its stake in CyberArk Software by 2.1% in the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after buying an additional 16,530 shares during the period. Whale Rock Capital Management LLC lifted its position in CyberArk Software by 21.6% in the 1st quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock worth $122,144,000 after buying an additional 81,801 shares in the last quarter. Swedbank AB boosted its stake in shares of CyberArk Software by 11.1% during the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after buying an additional 45,799 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of CyberArk Software by 38.2% during the 1st quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock valued at $107,642,000 after acquiring an additional 112,112 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other 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.