CyberArk Software (NASDAQ:CYBR) Reaches New 12-Month High Following Analyst Upgrade

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price hit a new 52-week high 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 trading hands. The stock had previously closed at $355.58.

Several other equities analysts have also recently weighed in on CYBR. Mizuho raised their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. KeyCorp upped their price target on CyberArk Software from $355.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a report on Monday, December 9th. BTIG Research raised their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Wedbush lifted their price target on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.74.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors have recently bought and sold shares of the stock. Ensign Peak Advisors Inc bought a new stake in shares of CyberArk Software in the second quarter worth about $711,000. HighTower Advisors LLC lifted its position in CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after purchasing an additional 2,062 shares during the period. Sycomore Asset Management boosted its holdings in CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock worth $15,973,000 after purchasing an additional 16,294 shares during the last quarter. Groupama Asset Managment grew its position in CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the period. Finally, Jennison Associates LLC raised its stake in CyberArk Software by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after buying an additional 9,570 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

CyberArk Software Stock Performance

The stock has a market capitalization of $15.57 billion, a P/E ratio of 1,323.77 and a beta of 1.13. The firm has a fifty day moving average price of $325.25 and a two-hundred day moving average price of $293.63.

CyberArk Software (NASDAQ:CYBR) last announced 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 business had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. During the same period last year, the firm posted ($0.31) earnings per share. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, research analysts anticipate that CyberArk Software Ltd. will post -0.58 earnings per share 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.