Truist Financial Reaffirms “Buy” Rating for CyberArk Software (NASDAQ:CYBR)

CyberArk Software (NASDAQ:CYBR)‘s stock had its “buy” rating reaffirmed by stock analysts at Truist Financial in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $350.00 price target on the technology company’s stock, up from their previous price target of $300.00. Truist Financial’s price target points to a potential upside of 14.65% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Robert W. Baird increased their price objective on shares of CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Cantor Fitzgerald restated an “overweight” rating and set a $335.00 price target on shares of CyberArk Software in a research note on Thursday. JMP Securities upped their target price on CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research report on Thursday. Mizuho boosted their price objective on CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Citigroup increased their price target on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $328.37.

CyberArk Software Stock Up 1.3 %

CYBR opened at $305.27 on Thursday. The stock’s fifty day moving average is $284.25 and its two-hundred day moving average is $266.66. The company has a market capitalization of $13.30 billion, a P/E ratio of 1,130.67 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 Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. acquired a new position in CyberArk Software in the second quarter valued at approximately $27,000. ORG Partners LLC acquired a new position in shares of CyberArk Software in the 2nd quarter valued at $33,000. Assetmark Inc. grew its holdings in shares of 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 purchasing an additional 123 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of CyberArk Software during the 2nd quarter worth about $39,000. Finally, Transcendent Capital Group LLC purchased a new stake in CyberArk Software in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.