CyberArk Software (NASDAQ:CYBR) Sets New 52-Week High After Analyst Upgrade

CyberArk Software Ltd. (NASDAQ:CYBR) shares reached a new 52-week high during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $350.00 to $385.00. Truist Financial currently has a buy rating on the stock. CyberArk Software traded as high as $373.44 and last traded at $370.55, with a volume of 94273 shares traded. The stock had previously closed at $359.46.

A number of other equities research analysts also recently issued reports on the stock. Mizuho increased their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Robert W. Baird increased their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. JMP Securities restated a “market outperform” rating and set a $360.00 price objective on shares of CyberArk Software in a research report on Tuesday, January 14th. UBS Group raised their target price 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 boosted their price target on CyberArk Software from $385.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, CyberArk Software has a consensus rating of “Moderate Buy” and an average target price of $363.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in CyberArk Software during the fourth quarter worth $25,000. Assetmark Inc. boosted its position 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 in the last quarter. Brown Lisle Cummings Inc. acquired a new stake in shares of CyberArk Software in the 4th quarter valued at about $50,000. Transcendent Capital Group LLC bought a new stake in CyberArk Software in the 3rd quarter valued at about $51,000. Finally, Kieckhefer Group LLC acquired a new position in CyberArk Software during the 4th quarter worth approximately $67,000. 91.84% of the stock is owned by institutional investors and hedge funds.

CyberArk Software Price Performance

The firm has a fifty day simple moving average of $332.21 and a 200-day simple moving average of $297.43. The firm has a market cap of $16.06 billion, a P/E ratio of 1,364.94 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, 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 return on equity of 2.29% and a net margin of 1.38%. CyberArk Software’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period last year, the business earned ($0.31) EPS. On average, equities analysts predict that CyberArk Software Ltd. will post -0.58 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.