CyberArk Software (NASDAQ:CYBR) Sets New 1-Year High – Time to Buy?

CyberArk Software Ltd. (NASDAQ:CYBR) hit a new 52-week high on Monday . The company traded as high as $391.62 and last traded at $389.81, with a volume of 225624 shares trading hands. The stock had previously closed at $384.29.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Needham & Company LLC boosted their price target on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a research note on Thursday, January 9th. Stifel Nicolaus lifted their price objective 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. JPMorgan Chase & Co. increased their target price on shares of CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Truist Financial boosted their price target on shares of CyberArk Software from $350.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.96.

CyberArk Software Stock Down 0.2 %

The firm has a fifty day simple moving average of $343.36 and a 200-day simple moving average of $305.45. The company has a market cap of $16.59 billion, a PE ratio of 1,410.64 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 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 company had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same quarter in the previous year, the company posted ($0.31) earnings per share. The firm’s revenue was up 25.6% compared to the same quarter last year. Equities research analysts forecast that CyberArk Software Ltd. will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors have recently modified their holdings of CYBR. Jennison Associates LLC boosted its stake 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 during the period. Groupama Asset Managment raised its holdings in shares of 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. Pictet Asset Management Holding SA boosted its stake in shares of CyberArk Software by 8.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock worth $292,651,000 after buying an additional 68,359 shares during the period. Norges Bank purchased a new position in shares of CyberArk Software during the fourth quarter worth about $203,375,000. Finally, Nepsis Inc. increased its position in CyberArk Software by 882.4% in the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock valued at $187,339,000 after acquiring an additional 505,088 shares during the period. 91.84% of the stock is owned by institutional investors and hedge funds.

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.