UBS Group Boosts CyberArk Software (NASDAQ:CYBR) Price Target to $360.00

CyberArk Software (NASDAQ:CYBR) had its price objective upped by UBS Group from $340.00 to $360.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

CYBR has been the topic of several other research reports. Citigroup increased their price objective on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Piper Sandler increased their price objective on shares of CyberArk Software from $300.00 to $345.00 and gave the stock an “overweight” rating in a research note on Thursday. BTIG Research increased their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Oppenheimer increased their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Cantor Fitzgerald increased their target price on shares of CyberArk Software from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and an average price target of $328.37.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR traded up $2.51 during trading on Thursday, hitting $303.79. The company’s stock had a trading volume of 494,735 shares, compared to its average volume of 523,930. The company has a 50-day moving average of $283.62 and a 200-day moving average of $266.42. CyberArk Software has a 12 month low of $183.28 and a 12 month high of $318.16. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of 1,111.15 and a beta of 1.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jennison Associates LLC grew its holdings in shares of CyberArk Software by 0.8% in the third 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 in the last quarter. RGM Capital LLC lifted its position in CyberArk Software by 2.1% in the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock worth $222,599,000 after buying an additional 16,530 shares during the last quarter. Whale Rock Capital Management LLC lifted its position in CyberArk Software by 21.6% in the first 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 during the last quarter. Swedbank AB lifted its position in CyberArk Software by 11.1% in the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after buying an additional 45,799 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in CyberArk Software by 38.2% in the first quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock worth $107,642,000 after buying an additional 112,112 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other 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.