CyberArk Software (NASDAQ:CYBR) Trading Up 7.9% – Here’s Why

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) traded up 7.9% during mid-day trading on Tuesday . The company traded as high as $330.04 and last traded at $330.30. 500,175 shares traded hands during trading, a decline of 3% from the average session volume of 514,910 shares. The stock had previously closed at $305.98.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CYBR shares. Oppenheimer boosted their target price on CyberArk Software from $360.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, February 5th. DA Davidson reiterated a “buy” rating and set a $475.00 price objective on shares of CyberArk Software in a research report on Tuesday, February 25th. Scotiabank raised their target price on shares of CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Royal Bank of Canada lifted their price target on shares of CyberArk Software from $385.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 21st. Finally, Robert W. Baird raised their price objective on shares of CyberArk Software from $455.00 to $465.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CyberArk Software presently has an average rating of “Moderate Buy” and an average price target of $418.04.

CyberArk Software Trading Up 2.3 %

The stock has a market capitalization of $15.48 billion, a P/E ratio of -161.13 and a beta of 1.00. The company has a 50-day moving average price of $360.72 and a 200 day moving average price of $329.07.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.85). CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. As a group, research analysts expect that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

Institutional Trading of CyberArk Software

A number of institutional investors have recently made changes to their positions in CYBR. Jennison Associates LLC grew its stake in shares of CyberArk Software by 32.3% during the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after acquiring an additional 391,900 shares during the last quarter. Thoma Bravo L.P. purchased a new stake in CyberArk Software during the 4th quarter worth approximately $380,637,000. Groupama Asset Managment grew its position in CyberArk Software by 0.5% during 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 last quarter. First Trust Advisors LP raised its holdings in shares of CyberArk Software by 2.3% in the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock worth $313,084,000 after buying an additional 20,832 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings 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 valued at $292,651,000 after buying an additional 68,359 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company’s stock.

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.