CyberArk Software (NASDAQ:CYBR) Hits New 52-Week High – What’s Next?

CyberArk Software Ltd. (NASDAQ:CYBR) shares hit a new 52-week high on Wednesday . The company traded as high as $336.84 and last traded at $333.15, with a volume of 931665 shares trading hands. The stock had previously closed at $319.60.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Robert W. Baird upped their price objective on shares of CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. upped their target price on CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Truist Financial reaffirmed a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. UBS Group increased their price objective on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada lifted their target price on shares of CyberArk Software from $328.00 to $358.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus price target of $339.22.

CyberArk Software Stock Performance

The stock’s fifty day moving average price is $309.21 and its 200-day moving average price is $285.70. The firm has a market cap of $14.52 billion, a PE ratio of 1,233.93 and a beta of 1.13.

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

Hedge Funds Weigh In On CyberArk Software

Several hedge funds and other institutional investors have recently bought and sold shares of CYBR. Ensign Peak Advisors Inc purchased a new position in shares of CyberArk Software in the second quarter valued at $711,000. HighTower Advisors LLC grew its stake in CyberArk Software by 16.6% in the 3rd quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after acquiring an additional 2,062 shares during the last quarter. Sycomore Asset Management increased its holdings in CyberArk Software by 36.6% during the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after acquiring an additional 16,294 shares in the last quarter. Groupama Asset Managment raised its position in CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after acquiring an additional 5,402 shares during the last quarter. Finally, Jennison Associates LLC raised its position in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

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.