The brokerage firm has raised the Price Target to $ 55 from a previous price target of $51.
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The stock had negative money flow to the tune of ($3.04 million) on Tuesday, which shows that the traders are selling the stock on the price strength. Royal Bank of Canada boosted its position in CyberArk Software by 1.3% in the first quarter.
Recently stock market analysts updated their outstanding price targets on shares of CyberArk Software Ltd. (NASDAQ:CYBR). Summit Redstone Partners reinitiated the shares of CYBR in a report on June 29 with “Buy” rating. Finally, Barclays PLC upgraded shares of CyberArk Software from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $44.00 to $60.00 in a report on Tuesday, July 5th.
03/28/2016 – CyberArk Software Ltd. was upgraded to “buy” by analysts at Nomura. TheStreet upgraded CyberArk Software from a “sell” rating to a “hold” rating in a report on Friday, June 10th. The maximum price target given is $62 and the minimum target for short term is around $45, hence the standard deviation is calculated at $5.7.
02/16/2016 – CyberArk Software Ltd. had its “outperform” rating reiterated by analysts at William Blair. Analysts at JPMorgan weighed in on Cyberark stock following its second quarter earnings call, maintaining their Overweight rating along with the price target of $59. They now have a Dollars 95 price target on the stock. They now have a United States dollars 43 price target on the stock. Despite providing strong quarterly results, Cyberark’s share price slipped in the extended trading session on the back of its weaker-than-expected total billings, which plunged almost 3% as compared to same period a year ago. The stock’s market capitalization is 1.64B. The $55.65 average target is 7.62% above today’s ($51.71) stock price. The Companys products include CyberArk Shared Technology Platform, Privileged Account Security Solution and Sensitive Information Management Solution.
CyberArk Software Ltd. provides information technology (IT) security solutions that protect organizations from cyber-attacks. Its Privileged Account Security Solution enables its customers to secure, manage and monitor privileged account access and activities.
CyberArk (CYBR -6.5%) reported on its second quarter yesterday and shares have been declining since. These products leverage a common technology platform that includes its secure Digital Vault, Web Management Interface, Master Policy Engine and Discovery Engine.
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