CyberArk Software (NASDAQ:CYBR) Sets New 1-Year High – Here’s What Happened

CyberArk Software Ltd. (NASDAQ:CYBR) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $378.78 and last traded at $373.37, with a volume of 86029 shares traded. The stock had previously closed at $372.00.

Analyst Upgrades and Downgrades

CYBR has been the subject of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $415.00 price target on shares of CyberArk Software in a research note on Monday, January 27th. Rosenblatt Securities upped their target price on shares of CyberArk Software from $345.00 to $415.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Canaccord Genuity Group lifted their price target on CyberArk Software from $310.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Piper Sandler increased their price objective on CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, DA Davidson lifted their target price on CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $371.89.

CyberArk Software Stock Up 1.1 %

The business’s 50-day simple moving average is $337.03 and its two-hundred day simple moving average is $301.09. The stock has a market cap of $16.57 billion, a P/E ratio of 1,408.72 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The business had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. During the same period in the previous year, the business earned ($0.31) EPS. CyberArk Software’s revenue was up 25.6% compared to the same quarter last year. Analysts anticipate that CyberArk Software Ltd. will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

Institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in CyberArk Software in the 4th quarter worth about $25,000. Assetmark Inc. lifted its holdings in shares of CyberArk Software by 1,025.0% in the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after buying an additional 123 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of CyberArk Software in the fourth quarter valued at approximately $39,000. Montag A & Associates Inc. grew its stake in CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after acquiring an additional 42 shares in the last quarter. Finally, Brown Lisle Cummings Inc. bought a new stake in CyberArk Software during the 4th quarter worth approximately $50,000. Hedge funds and other 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.