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

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) reached a new 52-week high during trading on Tuesday after Piper Sandler raised their price target on the stock from $345.00 to $380.00. Piper Sandler currently has an overweight rating on the stock. CyberArk Software traded as high as $348.24 and last traded at $345.92, with a volume of 429024 shares changing hands. The stock had previously closed at $339.47.

CYBR has been the subject of a number of other research reports. BTIG Research upped their price target on CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. KeyCorp increased their target price on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Jefferies Financial Group upped their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Barclays lifted their target price on shares of CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $316.00 target price on shares of CyberArk Software in a research note on Tuesday, December 31st. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $346.52.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CYBR. Assetmark Inc. grew its holdings in shares of CyberArk Software by 1,025.0% during the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after purchasing an additional 123 shares during the period. Transcendent Capital Group LLC purchased a new position in CyberArk Software during the third quarter worth about $51,000. Future Financial Wealth Managment LLC acquired a new stake in shares of CyberArk Software during the third quarter valued at about $87,000. Centaurus Financial Inc. purchased a new stake in shares of CyberArk Software in the 2nd quarter valued at approximately $109,000. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of CyberArk Software in the 2nd quarter worth approximately $129,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Stock Performance

The stock’s 50-day moving average is $313.09 and its two-hundred day moving average is $288.05. The stock has a market cap of $14.99 billion, a PE ratio of 1,273.75 and a beta of 1.13.

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

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.