Cyberark Software (CYBR) Hits New 12-Month High on Strong Earnings

Cyberark Software Ltd (NASDAQ:CYBR) reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $133.49 and last traded at $122.90, with a volume of 102103 shares changing hands. The stock had previously closed at $121.24.

The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.33. Cyberark Software had a net margin of 13.72% and a return on equity of 12.24%. The company had revenue of $95.94 million for the quarter, compared to analyst estimates of $92.42 million. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year.

Several analysts have recently commented on the stock. Morgan Stanley set a $126.00 price target on shares of Cyberark Software and gave the company a “buy” rating in a research report on Friday, February 15th. Wedbush increased their price target on shares of Cyberark Software from $95.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, February 15th. Barclays increased their price target on shares of Cyberark Software from $112.00 to $122.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. UBS Group lowered shares of Cyberark Software from a “buy” rating to a “neutral” rating and increased their price target for the company from $119.00 to $132.00 in a research report on Thursday, April 25th. Finally, FBN Securities assumed coverage on shares of Cyberark Software in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $130.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Cyberark Software currently has a consensus rating of “Buy” and an average target price of $107.55.



A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd purchased a new position in Cyberark Software during the first quarter worth approximately $3,649,000. Sandler Capital Management purchased a new position in Cyberark Software during the first quarter worth approximately $6,012,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Cyberark Software by 11.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 30,245 shares of the technology company’s stock worth $3,593,000 after purchasing an additional 2,995 shares during the period. M&T Bank Corp purchased a new position in Cyberark Software during the first quarter worth approximately $228,000. Finally, Advisors Asset Management Inc. raised its stake in Cyberark Software by 37.3% during the first quarter. Advisors Asset Management Inc. now owns 27,990 shares of the technology company’s stock worth $3,332,000 after purchasing an additional 7,608 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.

The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 86.01, a P/E/G ratio of 5.33 and a beta of 1.87.

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About Cyberark Software (NASDAQ:CYBR)

CyberArk Software Ltd., together with its subsidiaries, provides software-based security solutions and services for organizations to safeguard and monitor their privileged accounts. The company's solutions include Core Privileged Access Security for risk-based credential security and session management with add-on options for least privilege server and domain controller protection; Application Access Manager for secrets management for applications, tools, containers, and DevOps; and Endpoint Privilege Manager for least privilege and credential theft protection for workstations.

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