CyberArk Software (NASDAQ:CYBR) Sets New 1-Year High After Analyst Upgrade

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) reached a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from $340.00 to $400.00. Scotiabank currently has a sector outperform rating on the stock. CyberArk Software traded as high as $364.18 and last traded at $356.49, with a volume of 41463 shares. The stock had previously closed at $355.58.

CYBR has been the topic of a number of other research reports. Jefferies Financial Group boosted their price target on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. KeyCorp boosted their price target on CyberArk Software from $355.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday. BTIG Research boosted their price target on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Susquehanna boosted their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, DA Davidson upped their price target on shares of CyberArk Software from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $358.74.

Institutional Trading of CyberArk Software

A number of institutional investors have recently bought and sold shares of CYBR. Dimensional Fund Advisors LP boosted its position in CyberArk Software by 506.7% during the second quarter. Dimensional Fund Advisors LP now owns 6,565 shares of the technology company’s stock valued at $1,795,000 after acquiring an additional 5,483 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of CyberArk Software by 16.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,868 shares of the technology company’s stock worth $783,000 after purchasing an additional 399 shares in the last quarter. Sei Investments Co. boosted its position in shares of CyberArk Software by 6.1% during the 2nd quarter. Sei Investments Co. now owns 105,583 shares of the technology company’s stock worth $28,868,000 after purchasing an additional 6,113 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in shares of CyberArk Software during the 2nd quarter worth about $711,000. Finally, Public Sector Pension Investment Board boosted its position in shares of CyberArk Software by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 17,794 shares of the technology company’s stock worth $4,865,000 after purchasing an additional 1,232 shares in the last quarter. Institutional investors own 91.84% of the company’s stock.

CyberArk Software Trading Up 0.9 %

The company has a market cap of $15.63 billion, a P/E ratio of 1,328.31 and a beta of 1.13. The stock’s 50-day moving average price is $326.34 and its 200-day moving average price is $294.20.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. The company had revenue of $240.10 million for 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 business’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.31) EPS. On average, research analysts anticipate that CyberArk Software Ltd. will post -0.58 earnings per share for the current fiscal 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.