JMP Securities Raises CyberArk Software (NASDAQ:CYBR) Price Target to $360.00

CyberArk Software (NASDAQ:CYBR) had its price objective upped by investment analysts at JMP Securities from $310.00 to $360.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the technology company’s stock. JMP Securities’ target price points to a potential upside of 17.93% from the stock’s current price.

Several other equities research analysts also recently issued reports on CYBR. Needham & Company LLC restated a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Friday, August 9th. BTIG Research boosted their price target on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays increased their price objective on CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wedbush boosted their target price on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Robert W. Baird increased their target price on shares of CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One equities 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, the company has an average rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Stock Performance

Shares of CyberArk Software stock opened at $305.27 on Thursday. CyberArk Software has a 52-week low of $183.28 and a 52-week high of $318.16. The business’s 50 day simple moving average is $284.25 and its 200 day simple moving average is $266.66. The firm has a market cap of $13.30 billion, a PE ratio of 1,130.67 and a beta of 1.13.

Institutional Trading of CyberArk Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Swedbank AB acquired a new stake in CyberArk Software during the 1st quarter worth approximately $109,466,000. 1832 Asset Management L.P. boosted its holdings in CyberArk Software by 1,291.7% in the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after acquiring an additional 358,602 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of CyberArk Software in the 3rd quarter worth approximately $82,485,000. Anomaly Capital Management LP acquired a new stake in shares of CyberArk Software during the second quarter worth $49,145,000. Finally, Clearbridge Investments LLC raised its stake in CyberArk Software by 250.0% during the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after buying an additional 160,269 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors.

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.