CyberArk Software (NASDAQ:CYBR) Reaches New 1-Year High Following Analyst Upgrade

CyberArk Software Ltd. (NASDAQ:CYBR) shares reached a new 52-week high during trading on Friday after KeyCorp raised their price target on the stock from $310.00 to $340.00. KeyCorp currently has an overweight rating on the stock. CyberArk Software traded as high as $305.00 and last traded at $304.37, with a volume of 58268 shares traded. The stock had previously closed at $295.65.

A number of other equities research analysts also recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a report on Tuesday, August 6th. BTIG Research increased their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Mizuho lifted their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 target price on shares of CyberArk Software in a research note on Friday, August 9th. Finally, Guggenheim reissued a “buy” rating and set a $300.00 price target on shares of CyberArk Software in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $299.64.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently made changes to their positions in CYBR. Mather Group LLC. bought a new stake in shares of CyberArk Software in the second quarter worth $27,000. Montag A & Associates Inc. bought a new position in shares of CyberArk Software in the 1st quarter valued at about $27,000. ORG Partners LLC bought a new position in shares of CyberArk Software in the 2nd quarter valued at about $33,000. 1620 Investment Advisors Inc. acquired a new stake in shares of CyberArk Software in the second quarter valued at about $39,000. Finally, Arcadia Investment Management Corp MI raised its holdings in CyberArk Software by 42.2% during the second quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock worth $50,000 after acquiring an additional 54 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

CyberArk Software Price Performance

The firm has a 50-day moving average of $280.22 and a 200 day moving average of $261.10. The stock has a market capitalization of $12.68 billion, a price-to-earnings ratio of -468.72 and a beta of 1.12.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.40 by $0.14. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The company had revenue of $224.71 million during the quarter, compared to the consensus estimate of $219.06 million. During the same quarter in the prior year, the firm posted ($0.58) EPS. The firm’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, equities analysts forecast that CyberArk Software Ltd. will post -1.06 earnings per share for the current year.

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.