Wells Fargo & Company Raises CyberArk Software (NASDAQ:CYBR) Price Target to $350.00

CyberArk Software (NASDAQ:CYBR - Free Report) had its price target increased by Wells Fargo & Company from $300.00 to $350.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the technology company's stock.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $310.00 price objective on shares of CyberArk Software in a report on Friday, August 9th. Royal Bank of Canada initiated coverage on CyberArk Software in a report on Friday, September 20th. They set an "outperform" rating and a $328.00 target price for the company. Susquehanna increased their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a "positive" rating in a report on Thursday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $335.00 price objective on shares of CyberArk Software in a research report on Thursday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $310.00 price target on shares of CyberArk Software in a research report on Tuesday, August 6th. 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, the company presently has an average rating of "Moderate Buy" and an average target price of $328.37.

CyberArk Software Trading Up 3.3 %

NASDAQ:CYBR traded up $9.67 during mid-day trading on Thursday, hitting $301.28. 882,498 shares of the company's stock were exchanged, compared to its average volume of 524,062. The firm has a market capitalization of $13.13 billion, a P/E ratio of -967.16 and a beta of 1.13. CyberArk Software has a fifty-two week low of $183.28 and a fifty-two week high of $318.16. The company has a 50 day simple moving average of $283.62 and a 200-day simple moving average of $266.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CYBR. Jennison Associates LLC raised its position in shares of CyberArk Software by 0.8% in the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company's stock worth $353,386,000 after buying an additional 9,570 shares during the period. RGM Capital LLC raised its holdings in shares of CyberArk Software by 2.1% in the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company's stock worth $222,599,000 after purchasing an additional 16,530 shares during the period. Whale Rock Capital Management LLC lifted its stake in shares of CyberArk Software by 21.6% in the 1st quarter. Whale Rock Capital Management LLC now owns 459,828 shares of the technology company's stock valued at $122,144,000 after purchasing an additional 81,801 shares in the last quarter. Swedbank AB grew its holdings in shares of CyberArk Software by 11.1% during the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company's stock worth $133,528,000 after purchasing an additional 45,799 shares during the period. Finally, Acadian Asset Management LLC increased its position in CyberArk Software by 38.2% during the 1st quarter. Acadian Asset Management LLC now owns 405,375 shares of the technology company's stock worth $107,642,000 after purchasing an additional 112,112 shares in the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

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.