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 trading hands. The stock had previously closed at $359.46.

Other analysts have also recently issued reports about the stock. Citigroup raised their price target on shares of CyberArk Software from $355.00 to $410.00 and gave the company a “buy” rating in a report on Friday, January 17th. UBS Group raised their price target on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus raised their price target on shares of CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Scotiabank raised their price target on shares of CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of CyberArk Software from $355.00 to $375.00 and gave the company an “overweight” rating in a report on Monday, December 16th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $363.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC boosted its position in shares of CyberArk Software by 32.3% during the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after acquiring an additional 391,900 shares during the last quarter. Groupama Asset Managment lifted its position in CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after buying an additional 5,402 shares during the last quarter. Nepsis Inc. lifted its position in 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 during the last quarter. Swedbank AB lifted its position in CyberArk Software by 19.0% in the fourth quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock valued at $181,600,000 after buying an additional 87,201 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its position in CyberArk Software by 3.3% in the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock valued at $134,422,000 after buying an additional 14,927 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Stock Up 3.7 %

The stock’s 50-day simple moving average is $329.93 and its 200 day simple moving average is $296.06. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 1,373.13 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 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. CyberArk Software’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.31) earnings per share. On average, sell-side analysts expect that CyberArk Software Ltd. will post -0.58 EPS for the current fiscal year.

About CyberArk Software

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.