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

CyberArk Software Ltd. (NASDAQ:CYBR) 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 traded. The stock had previously closed at $339.47.

CYBR has been the topic of a number of other research reports. UBS Group increased their price target on CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus increased their target price on shares of CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. KeyCorp raised their target price 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. JMP Securities upped their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 14th. Finally, Barclays lifted their price objective on shares of CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, CyberArk Software presently has an average rating of “Moderate Buy” and an average price target of $346.52.

Institutional Investors Weigh In On CyberArk Software

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

CyberArk Software Stock Up 1.9 %

The company’s 50-day moving average is $313.09 and its 200-day moving average is $288.05. The stock has a market capitalization of $15.07 billion, a price-to-earnings ratio of 1,281.23 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.31) earnings per share. Sell-side analysts anticipate 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.