Piper Sandler Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price target raised by equities researchers at Piper Sandler from $300.00 to $345.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 13.01% from the stock’s current price.

A number of other analysts also recently issued reports on CYBR. KeyCorp raised their price target on shares of CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday. Wedbush raised their target price 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. Susquehanna boosted their target price on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a report on Friday, August 9th. Finally, Jefferies Financial Group boosted their price target on CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR opened at $305.27 on Thursday. CyberArk Software has a 1 year low of $183.28 and a 1 year high of $318.16. The stock’s fifty day moving average price is $284.25 and its 200-day moving average price is $266.66. The company has a market cap of $13.30 billion, a P/E ratio of 1,130.67 and a beta of 1.13.

Hedge Funds Weigh In On CyberArk Software

Hedge funds have recently modified their holdings of the stock. Greenleaf Trust lifted its position in shares of CyberArk Software by 2.5% in the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock worth $533,000 after buying an additional 45 shares in the last quarter. Signaturefd LLC increased its position in shares of CyberArk Software by 4.2% during the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after purchasing an additional 49 shares during the last quarter. Austin Private Wealth LLC lifted its position in CyberArk Software by 6.8% in the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock worth $238,000 after buying an additional 52 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake in shares of CyberArk Software by 42.2% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after purchasing an additional 54 shares during the period. Finally, Juncture Wealth Strategies LLC raised its position in CyberArk Software by 2.1% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after purchasing an additional 57 shares during the period. Hedge funds and other 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.