Wells Fargo & Company Forecasts Strong Price Appreciation for CyberArk Software (NASDAQ:CYBR) Stock

CyberArk Software (NASDAQ:CYBR) had its price target lifted by equities research analysts at Wells Fargo & Company from $300.00 to $350.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 14.65% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. DA Davidson lifted their price target on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Citigroup lifted their target price on CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Mizuho increased their price target on CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada assumed coverage on CyberArk Software in a research report on Friday, September 20th. They set an “outperform” rating and a $328.00 price target on the stock. Finally, Wedbush increased their price objective on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, CyberArk Software has an average rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Price Performance

Shares of CyberArk Software stock opened at $305.27 on Thursday. The stock’s 50-day moving average is $284.25 and its 200-day moving average is $266.66. CyberArk Software has a one year low of $183.28 and a one year high of $318.16. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 1,130.67 and a beta of 1.13.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in shares of CyberArk Software in the 2nd quarter valued at $27,000. ORG Partners LLC acquired a new stake in CyberArk Software in the second quarter valued at about $33,000. 1620 Investment Advisors Inc. bought a new position in CyberArk Software in the second quarter valued at about $39,000. Assetmark Inc. raised its stake in CyberArk Software by 1,025.0% during the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after acquiring an additional 123 shares in the last quarter. Finally, Arcadia Investment Management Corp MI lifted its holdings in shares of CyberArk Software by 42.2% in the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after acquiring an additional 54 shares during the last quarter. 91.84% of the stock is owned by institutional investors.

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.