CyberArk Software (NASDAQ:CYBR) Sets New 52-Week High – Should You Buy?

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $316.39 and last traded at $305.95, with a volume of 346382 shares. The stock had previously closed at $300.76.

Analyst Ratings Changes

CYBR has been the topic of several research analyst reports. KeyCorp raised their price objective on shares of CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday. Mizuho raised their target price on CyberArk Software from $310.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. UBS Group raised their target price on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday. BTIG Research lifted their price objective on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Stock Performance

The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of -941.50 and a beta of 1.13. The company has a 50-day moving average price of $283.62 and a 200-day moving average price of $266.42.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors have recently modified their holdings of CYBR. Mather Group LLC. acquired a new position in shares of CyberArk Software in the 2nd quarter valued at approximately $27,000. ORG Partners LLC bought a new stake in CyberArk Software in the 2nd quarter valued at approximately $33,000. 1620 Investment Advisors Inc. bought a new stake in CyberArk Software in the 2nd quarter valued at approximately $39,000. Assetmark Inc. lifted its stake in CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after acquiring an additional 123 shares in the last quarter. Finally, Arcadia Investment Management Corp MI lifted its stake in CyberArk Software by 42.2% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 182 shares of the technology company’s stock valued at $50,000 after acquiring an additional 54 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.