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

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price hit 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 equities research analysts have also recently issued reports on CYBR. JPMorgan Chase & Co. lifted their target price on CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Wedbush upped their price objective on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Needham & Company LLC increased their target price on CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a research report on Thursday, January 9th. DA Davidson raised their target price on shares of CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Finally, KeyCorp upped their price objective on CyberArk Software from $355.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, CyberArk Software has an average rating of “Moderate Buy” and a consensus price target of $358.74.

Institutional Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in CyberArk Software in the 4th quarter valued at about $25,000. Assetmark Inc. lifted its position in shares of CyberArk Software by 1,025.0% in the third 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. Transcendent Capital Group LLC acquired a new stake in shares of CyberArk Software in the third quarter worth approximately $51,000. Kieckhefer Group LLC purchased a new stake in shares of CyberArk Software during the fourth quarter worth approximately $67,000. Finally, Future Financial Wealth Managment LLC acquired a new position in CyberArk Software in the 3rd quarter valued at $87,000. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Trading Up 0.5 %

The business has a fifty day simple moving average of $325.25 and a two-hundred day simple moving average of $293.63. The company has a market cap of $15.57 billion, a PE ratio of 1,323.77 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results 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 company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same quarter last year, the firm earned ($0.31) earnings per share. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. Equities analysts expect 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.