Wells Fargo & Company Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its target price raised by Wells Fargo & Company from $300.00 to $350.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group raised their price objective on CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. BTIG Research raised their price objective on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Susquehanna raised their price objective on CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research report on Thursday. Stifel Nicolaus raised their price objective on CyberArk Software from $306.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. Finally, KeyCorp raised their price objective on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $328.37.

CyberArk Software Stock Performance

CyberArk Software stock traded up $2.51 during midday trading on Thursday, reaching $303.79. The stock had a trading volume of 494,735 shares, compared to its average volume of 523,930. CyberArk Software has a twelve month low of $183.28 and a twelve month high of $318.16. The stock has a market capitalization of $13.24 billion, a PE ratio of 1,111.15 and a beta of 1.13. The stock’s 50-day simple moving average is $283.62 and its 200 day simple moving average is $266.42.

Hedge Funds Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Greenleaf Trust increased its holdings 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 valued at $533,000 after buying an additional 45 shares in the last quarter. Signaturefd LLC increased its holdings in shares of CyberArk Software by 4.2% in the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after buying an additional 49 shares in the last quarter. Austin Private Wealth LLC increased its holdings in shares of CyberArk Software by 6.8% in the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after buying an additional 52 shares in the last quarter. Arcadia Investment Management Corp MI increased its holdings in shares of CyberArk Software by 42.2% in the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after buying an additional 54 shares in the last quarter. Finally, Juncture Wealth Strategies LLC increased its holdings in shares of CyberArk Software by 2.1% in the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock valued at $825,000 after buying an additional 57 shares in the last quarter. 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.