CyberArk Software (NASDAQ:CYBR) Reaches New 12-Month High After Analyst Upgrade

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price reached a new 52-week high during 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 research analysts have also recently commented on the company. Stifel Nicolaus boosted their price objective on CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Barclays boosted their price target on CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Royal Bank of Canada increased their price objective on shares of CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday, January 21st. UBS Group boosted their target price on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Susquehanna raised their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $363.56.

Hedge Funds Weigh In On CyberArk Software

Large investors have recently bought and sold shares of the company. HighTower Advisors LLC grew its position in shares of CyberArk Software by 16.6% in the 3rd quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after buying an additional 2,062 shares during the last quarter. Sycomore Asset Management increased its position in CyberArk Software by 36.6% during the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after purchasing an additional 16,294 shares during the period. Groupama Asset Managment raised its stake in CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after buying an additional 5,402 shares during the last quarter. Jennison Associates LLC raised its stake in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after buying an additional 9,570 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in CyberArk Software in the third quarter valued at $8,612,000. 91.84% of the stock is currently owned by institutional investors.

CyberArk Software Trading Up 4.5 %

The company has a market cap of $16.36 billion, a P/E ratio of 1,390.79 and a beta of 1.13. The firm has a 50-day moving average of $332.21 and a 200 day moving average of $297.43.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. The firm had revenue of $240.10 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned ($0.31) earnings per share. On average, equities analysts predict that CyberArk Software Ltd. will post -0.58 EPS 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.