CyberArk Software (NASDAQ:CYBR) Given New $345.00 Price Target at Piper Sandler

CyberArk Software (NASDAQ:CYBR) had its price objective boosted by equities researchers at Piper Sandler from $300.00 to $345.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective indicates a potential upside of 18.31% from the stock’s current price.

CYBR has been the subject of several other research reports. Royal Bank of Canada initiated coverage on CyberArk Software in a report on Friday, September 20th. They issued an “outperform” rating and a $328.00 price objective for the company. KeyCorp lifted their price objective on shares of CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday. Scotiabank initiated coverage on shares of CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 target price on the stock. Jefferies Financial Group lifted their price target on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, DA Davidson upped their price objective on CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $316.19.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $291.61 on Thursday. The stock has a 50 day moving average price of $283.33 and a 200 day moving average price of $266.24. The stock has a market capitalization of $12.71 billion, a PE ratio of -911.28 and a beta of 1.13. CyberArk Software has a 52 week low of $183.28 and a 52 week high of $318.16.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Mather Group LLC. bought a new position in CyberArk Software in the second quarter valued at about $27,000. ORG Partners LLC acquired a new stake in CyberArk Software during the 2nd quarter worth approximately $33,000. 1620 Investment Advisors Inc. acquired a new stake in CyberArk Software during the 2nd quarter worth approximately $39,000. Assetmark Inc. grew its holdings in CyberArk Software by 1,025.0% during the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after acquiring an additional 123 shares during the last quarter. Finally, Arcadia Investment Management Corp MI increased its position in CyberArk Software by 42.2% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after acquiring an additional 54 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.