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

CyberArk Software Ltd. (NASDAQ:CYBR) reached a new 52-week high during trading 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.

Several other analysts also recently weighed in on the company. Royal Bank of Canada lifted their price objective on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday. Needham & Company LLC raised their price objective on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a research note on Thursday, January 9th. BTIG Research raised their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Oppenheimer lifted their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Susquehanna raised their price objective on CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $358.74.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds have recently modified their holdings of CYBR. Foundations Investment Advisors LLC grew its holdings in shares of CyberArk Software by 6.4% during the fourth quarter. Foundations Investment Advisors LLC now owns 2,906 shares of the technology company’s stock valued at $968,000 after buying an additional 175 shares in the last quarter. Pacer Advisors Inc. increased its stake in CyberArk Software by 20.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,427 shares of the technology company’s stock valued at $475,000 after acquiring an additional 244 shares during the period. Blue Trust Inc. grew its stake in shares of CyberArk Software by 17.4% in the 4th quarter. Blue Trust Inc. now owns 1,356 shares of the technology company’s stock valued at $452,000 after purchasing an additional 201 shares during the period. Moody Lynn & Lieberson LLC grew its stake in shares of CyberArk Software by 18.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 934 shares of the technology company’s stock valued at $311,000 after purchasing an additional 146 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in CyberArk Software by 9.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 11,576 shares of the technology company’s stock worth $3,857,000 after acquiring an additional 1,024 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

CyberArk Software Stock Performance

The firm has a market capitalization of $15.63 billion, a P/E ratio of 1,328.31 and a beta of 1.13. The stock has a 50-day moving average of $326.34 and a 200 day moving average of $294.20.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share (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 firm had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. During the same quarter in the prior year, the business earned ($0.31) EPS. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. On average, equities analysts predict 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.