CyberArk Software (NASDAQ:CYBR) Reaches New 52-Week High Following Analyst Upgrade

CyberArk Software Ltd. (NASDAQ:CYBR) shares hit a new 52-week high during mid-day 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. The stock had previously closed at $339.47.

Several other equities analysts have also commented on CYBR. KeyCorp increased their price objective on shares of 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 lifted 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. Mizuho upped their price objective on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. JMP Securities lifted their target price on CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a report on Thursday, November 14th. Finally, Barclays increased their price target on CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and a consensus price target of $346.52.

Institutional Trading of CyberArk Software

A number of hedge funds have recently bought and sold shares of the stock. Coldstream Capital Management Inc. raised its position in shares of CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock worth $359,000 after acquiring an additional 42 shares in the last quarter. Greenleaf Trust raised its holdings in CyberArk Software by 2.5% in the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock worth $533,000 after purchasing an additional 45 shares in the last quarter. Signaturefd LLC lifted its position in shares of CyberArk Software by 4.2% during the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after buying an additional 49 shares during the last quarter. Austin Private Wealth LLC boosted its holdings in shares of CyberArk Software by 6.8% in the 3rd quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after buying an additional 52 shares in the last quarter. Finally, Juncture Wealth Strategies LLC grew its position in shares of CyberArk Software by 2.1% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Down 0.6 %

The business has a 50-day moving average price of $313.09 and a 200-day moving average price of $288.05. The firm has a market capitalization of $14.99 billion, a price-to-earnings ratio of 1,273.75 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly 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 business 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 business’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.31) earnings per share. On average, equities research analysts forecast 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.