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

Truist Financial reiterated their buy rating on shares of CyberArk Software (NASDAQ:CYBR) in a research note released on Thursday morning,Benzinga reports. Truist Financial currently has a $350.00 price objective on the technology company’s stock, up from their prior price objective of $300.00.

Other equities research analysts have also issued research reports about the company. Wedbush raised their price objective on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. DA Davidson raised their price target on shares of CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $335.00 price target on shares of CyberArk Software in a report on Thursday. Citigroup raised their price objective on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company upped their target price on shares of CyberArk Software from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, CyberArk Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Price Performance

NASDAQ:CYBR opened at $305.27 on Thursday. CyberArk Software has a 1-year low of $183.28 and a 1-year high of $318.16. The stock has a market cap of $13.30 billion, a P/E ratio of 1,130.67 and a beta of 1.13. The firm has a 50-day moving average of $285.06 and a two-hundred day moving average of $267.09.

Institutional Investors Weigh In On CyberArk Software

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in CyberArk Software by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 372,231 shares of the technology company’s stock valued at $108,020,000 after acquiring an additional 14,724 shares during the period. Continuum Advisory LLC boosted its position in CyberArk Software by 33.2% during the 3rd quarter. Continuum Advisory LLC now owns 7,823 shares of the technology company’s stock worth $2,357,000 after acquiring an additional 1,950 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of CyberArk Software in the third quarter worth $8,612,000. Groupama Asset Managment increased its holdings in shares of CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of CyberArk Software by 11.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 12,190 shares of the technology company’s stock valued at $3,555,000 after purchasing an additional 1,300 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.