KeyCorp Increases CyberArk Software (NASDAQ:CYBR) Price Target to $310.00

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by equities research analysts at KeyCorp from $300.00 to $310.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target points to a potential upside of 13.25% from the company’s previous close.

Several other research analysts have also commented on the company. Bank of America reaffirmed a “buy” rating and set a $315.00 price target on shares of CyberArk Software in a research report on Wednesday, April 24th. JMP Securities restated a “market outperform” rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Monday, June 17th. DA Davidson boosted their target price on shares of CyberArk Software from $275.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Robert W. Baird upped their price target on shares of CyberArk Software from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Wedbush reiterated an “outperform” rating and issued a $285.00 price target on shares of CyberArk Software in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average target price of $290.83.

CyberArk Software Stock Performance

Shares of CyberArk Software stock traded up $10.13 during trading on Friday, hitting $273.72. 934,482 shares of the company’s stock were exchanged, compared to its average volume of 555,036. The business has a 50-day simple moving average of $258.55 and a 200-day simple moving average of $252.74. CyberArk Software has a 52-week low of $148.01 and a 52-week high of $284.10. The stock has a market capitalization of $11.57 billion, a price-to-earnings ratio of -427.69 and a beta of 1.14.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CYBR. Jennison Associates LLC grew its position in shares of CyberArk Software by 81.4% during the 4th quarter. Jennison Associates LLC now owns 1,053,964 shares of the technology company’s stock valued at $230,871,000 after acquiring an additional 472,961 shares during the period. Norges Bank acquired a new stake in shares of CyberArk Software during the fourth quarter worth about $100,797,000. Whale Rock Capital Management LLC boosted its holdings 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 valued at $122,144,000 after purchasing an additional 81,801 shares during the period. Swedbank AB acquired a new position in CyberArk Software during the 1st quarter worth approximately $109,466,000. Finally, Acadian Asset Management LLC boosted its position in shares of CyberArk Software by 38.2% during the 1st quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company’s stock worth $107,642,000 after acquiring an additional 112,112 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.