JMP Securities Raises CyberArk Software (NASDAQ:CYBR) Price Target to $360.00

CyberArk Software (NASDAQ:CYBR) had its price target upped by JMP Securities from $310.00 to $360.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the technology company’s stock.

A number of other research analysts also recently weighed in on CYBR. Wedbush increased their price target on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Scotiabank assumed coverage on CyberArk Software in a research note on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price target on the stock. KeyCorp increased their price target on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday. Rosenblatt Securities reaffirmed a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research note on Tuesday, August 6th. Finally, Oppenheimer raised their price objective on CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Price Performance

Shares of CYBR stock traded up $2.51 during trading hours on Thursday, reaching $303.79. The company 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. 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. CyberArk Software has a 1-year low of $183.28 and a 1-year high of $318.16.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently modified their holdings of CYBR. Oppenheimer & Co. Inc. grew its holdings in CyberArk Software by 28.0% during the first quarter. Oppenheimer & Co. Inc. now owns 1,695 shares of the technology company’s stock worth $450,000 after purchasing an additional 371 shares during the period. Russell Investments Group Ltd. grew its holdings in CyberArk Software by 58.3% during the first quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock worth $8,830,000 after purchasing an additional 12,242 shares during the period. US Bancorp DE grew its holdings in CyberArk Software by 3.6% during the first quarter. US Bancorp DE now owns 10,220 shares of the technology company’s stock worth $2,715,000 after purchasing an additional 353 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in CyberArk Software by 17.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,573 shares of the technology company’s stock worth $5,996,000 after purchasing an additional 3,349 shares during the period. Finally, Blair William & Co. IL grew its holdings in CyberArk Software by 15.2% during the first quarter. Blair William & Co. IL now owns 14,515 shares of the technology company’s stock worth $3,856,000 after purchasing an additional 1,919 shares during the period. Institutional investors own 91.84% of the company’s stock.

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.