Wells Fargo & Company Increases CyberArk Software (NASDAQ:CYBR) Price Target to $350.00

CyberArk Software (NASDAQ:CYBR) had its price objective upped by Wells Fargo & Company from $300.00 to $350.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other research firms also recently commented on CYBR. DA Davidson boosted their target price on CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 9th. KeyCorp raised their price objective on shares of CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a research note on Friday, August 9th. Scotiabank began coverage on shares of CyberArk Software in a report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price target on the stock. Finally, BTIG Research boosted their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $305.27 on Thursday. The company has a 50 day simple moving average of $285.06 and a two-hundred day simple moving average of $267.09. CyberArk Software has a fifty-two week low of $183.28 and a fifty-two week high of $318.16. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 1,130.67 and a beta of 1.13.

Institutional Trading of CyberArk Software

Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in shares of CyberArk Software by 58.3% during the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after buying an additional 12,242 shares in the last quarter. Quadrature Capital Ltd purchased a new position in CyberArk Software during the first quarter valued at approximately $2,741,000. Price T Rowe Associates Inc. MD boosted its position in shares of CyberArk Software by 715.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock worth $14,946,000 after purchasing an additional 49,360 shares during the period. Ensign Peak Advisors Inc purchased a new stake in shares of CyberArk Software in the second quarter worth $711,000. Finally, 1832 Asset Management L.P. raised its position in shares of CyberArk Software by 1,291.7% during the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock valued at $102,630,000 after purchasing an additional 358,602 shares during the period. Institutional investors 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.