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.
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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