CyberArk Software (NASDAQ:CYBR) Given “Buy” Rating at Truist Financial

Truist Financial reissued their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $350.00 target price on the technology company’s stock, up from their previous target price of $300.00.

A number of other analysts have also recently commented on the stock. Piper Sandler upped their price target on shares of CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a research note on Thursday. Scotiabank started coverage on shares of CyberArk Software in a report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 target price on the stock. Canaccord Genuity Group raised their price target on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho lifted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Oppenheimer lifted their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Trading Up 0.4 %

Shares of CYBR traded up $1.32 on Thursday, reaching $302.60. The company’s stock had a trading volume of 474,658 shares, compared to its average volume of 523,840. CyberArk Software has a twelve month low of $183.28 and a twelve month high of $318.16. The firm has a fifty day moving average of $283.62 and a 200-day moving average of $266.42. The stock has a market capitalization of $13.18 billion, a PE ratio of 1,111.15 and a beta of 1.13.

Institutional Investors Weigh In On CyberArk Software

Institutional investors and hedge funds have recently made changes to their positions in the company. Greenleaf Trust grew its stake in CyberArk Software by 2.5% in the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after acquiring an additional 45 shares during the period. Signaturefd LLC boosted its position in shares of CyberArk Software by 4.2% during the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock worth $352,000 after buying an additional 49 shares during the period. Austin Private Wealth LLC raised its holdings in CyberArk Software by 6.8% during the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock worth $238,000 after acquiring an additional 52 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in CyberArk Software by 42.2% during 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 in the last quarter. Finally, Juncture Wealth Strategies LLC raised its holdings in CyberArk Software by 2.1% during the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after acquiring an additional 57 shares in the last quarter. 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.