Canaccord Genuity Group Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price objective increased by stock analysts at Canaccord Genuity Group from $310.00 to $330.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s target price points to a potential upside of 8.10% from the company’s current price.

Several other analysts have also commented on CYBR. Citigroup raised their target price on CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Susquehanna raised their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research note on Thursday. Royal Bank of Canada assumed coverage on shares of CyberArk Software in a research note on Friday, September 20th. They issued an “outperform” rating and a $328.00 target price for the company. JMP Securities raised their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research report on Thursday. Finally, Robert W. Baird upped their price objective on shares of CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, CyberArk Software presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Price Performance

NASDAQ CYBR opened at $305.27 on Thursday. The company has a fifty day moving average of $284.25 and a 200 day moving average of $266.66. The company has a market capitalization of $13.30 billion, a PE ratio of 1,130.67 and a beta of 1.13. CyberArk Software has a 1 year low of $183.28 and a 1 year high of $318.16.

Institutional Investors Weigh In On CyberArk Software

Large investors have recently made changes to their positions in the stock. Swedbank AB acquired a new position in CyberArk Software during the first quarter worth $109,466,000. 1832 Asset Management L.P. grew its holdings in shares of CyberArk Software by 1,291.7% in the first 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. International Assets Investment Management LLC acquired a new stake in CyberArk Software during the third quarter worth about $82,485,000. Anomaly Capital Management LP purchased a new position in CyberArk Software during the second quarter worth about $49,145,000. Finally, Clearbridge Investments LLC boosted its holdings in CyberArk Software by 250.0% in the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock valued at $61,350,000 after purchasing an additional 160,269 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other 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.