Royal Bank of Canada Issues Positive Forecast for CyberArk Software (NASDAQ:CYBR) Stock Price

CyberArk Software (NASDAQ:CYBR) had its price target hoisted by Royal Bank of Canada from $328.00 to $358.00 in a report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Other analysts have also recently issued research reports about the company. Barclays increased their target price on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a report on Thursday. BTIG Research increased their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their target price on shares of CyberArk Software from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday. KeyCorp increased their price target on shares of CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Oppenheimer boosted their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Price Performance

NASDAQ CYBR opened at $305.27 on Thursday. The stock’s 50 day simple moving average is $285.06 and its 200 day simple moving average is $267.09. 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 PE ratio of 1,130.67 and a beta of 1.13.

Institutional Inflows and Outflows

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