CyberArk Software (NASDAQ:CYBR) Sets New 12-Month High on Analyst Upgrade

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) reached a new 52-week high 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 analysts have also weighed in on the stock. UBS Group upped their target price on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Citigroup upped their price target on CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a report on Friday, January 17th. BTIG Research upped their price target on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus upped their price target on CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company upped their price target on CyberArk Software from $410.00 to $425.00 and gave the company an “overweight” rating in a report on Monday. One equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $363.56.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CYBR. Nepsis Inc. increased its position in shares of CyberArk Software by 882.4% in the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock valued at $187,339,000 after buying an additional 505,088 shares in the last quarter. Jennison Associates LLC increased its position in CyberArk Software by 32.3% during the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after purchasing an additional 391,900 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in CyberArk Software during the 3rd quarter worth about $82,485,000. Clearbridge Investments LLC increased its position in CyberArk Software by 250.0% during the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after purchasing an additional 160,269 shares in the last quarter. Finally, Swedbank AB increased its position in CyberArk Software by 19.0% during the 4th quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock worth $181,600,000 after purchasing an additional 87,201 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Performance

The stock has a market cap of $16.23 billion, a PE ratio of 1,373.13 and a beta of 1.13. The business has a 50-day moving average of $329.93 and a 200 day moving average of $296.06.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. The firm had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.31) EPS. Equities analysts expect that CyberArk Software Ltd. will post -0.58 EPS for the current fiscal 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.