CyberArk Software (NASDAQ:CYBR) Given New $285.00 Price Target at DA Davidson

CyberArk Software (NASDAQ:CYBR) had its price objective raised by DA Davidson from $275.00 to $285.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

CYBR has been the topic of several other research reports. Susquehanna lifted their price target on shares of CyberArk Software from $255.00 to $310.00 and gave the company a positive rating in a report on Friday, February 9th. JMP Securities reiterated a market outperform rating and set a $280.00 price objective on shares of CyberArk Software in a research report on Tuesday, May 14th. Bank of America reiterated a buy rating and set a $315.00 price objective on shares of CyberArk Software in a research report on Wednesday, April 24th. BTIG Research started coverage on shares of CyberArk Software in a research report on Thursday, March 28th. They set a buy rating and a $317.00 price objective on the stock. Finally, Rosenblatt Securities reiterated a buy rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $266.04.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR opened at $244.52 on Wednesday. CyberArk Software has a 1-year low of $142.92 and a 1-year high of $283.00. The company has a market capitalization of $10.33 billion, a P/E ratio of -382.06 and a beta of 1.06. The firm’s 50 day simple moving average is $248.86 and its two-hundred day simple moving average is $233.13.

Institutional Trading of CyberArk Software

A number of large investors have recently made changes to their positions in the stock. Swedbank AB purchased a new stake in shares of CyberArk Software during the first quarter valued at $109,466,000. iA Global Asset Management Inc. purchased a new stake in shares of CyberArk Software during the first quarter valued at $4,428,000. Hancock Whitney Corp purchased a new stake in shares of CyberArk Software during the first quarter valued at $231,000. Castleark Management LLC boosted its stake in shares of CyberArk Software by 2.0% during the first quarter. Castleark Management LLC now owns 31,560 shares of the technology company’s stock valued at $8,383,000 after purchasing an additional 630 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of CyberArk Software by 1,702.0% during the first quarter. Tidal Investments LLC now owns 33,787 shares of the technology company’s stock valued at $8,975,000 after purchasing an additional 31,912 shares during the period. 91.84% of the stock is owned by hedge funds and other 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.