UBS Group Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price target increased by investment analysts at UBS Group from $340.00 to $360.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. UBS Group’s target price suggests a potential upside of 20.52% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Robert W. Baird lifted their price target on shares of CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Scotiabank started coverage on CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 target price on the stock. BTIG Research raised their price target on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a research note on Tuesday, August 6th. One research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $323.56.

CyberArk Software Stock Performance

Shares of CYBR stock traded up $7.09 during trading hours on Thursday, hitting $298.70. The company had a trading volume of 122,880 shares, compared to its average volume of 520,451. The firm’s fifty day moving average is $283.33 and its 200 day moving average is $266.24. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of -925.06 and a beta of 1.13. CyberArk Software has a 12 month low of $183.28 and a 12 month high of $318.16.

Institutional Trading of CyberArk Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its position in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares during the last quarter. RGM Capital LLC boosted its stake in CyberArk Software by 2.1% in the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after purchasing an additional 16,530 shares during the period. Whale Rock Capital Management LLC grew its holdings in CyberArk Software by 21.6% in the 1st quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company’s stock valued at $122,144,000 after buying an additional 81,801 shares in the last quarter. Swedbank AB increased its position in CyberArk Software by 11.1% during the 3rd 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 period. Finally, Acadian Asset Management LLC lifted its holdings in shares of CyberArk Software by 38.2% during 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 in the last quarter. 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.