CyberArk Software (NASDAQ:CYBR) Sets New 1-Year High – Here’s What Happened

CyberArk Software Ltd. (NASDAQ:CYBR)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $336.84 and last traded at $333.15, with a volume of 931665 shares trading hands. The stock had previously closed at $319.60.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CYBR shares. Robert W. Baird raised their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Mizuho raised their target price on CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. JMP Securities upped their price target on CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. Wedbush raised their price objective on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus upped their target price on shares of CyberArk Software from $335.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. One research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $341.44.

CyberArk Software Price Performance

The stock has a 50 day simple moving average of $310.94 and a two-hundred day simple moving average of $286.38. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 1,243.23 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 earnings per share 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 firm had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same quarter in the previous year, the business earned ($0.31) earnings per share. The firm’s revenue was up 25.6% compared to the same quarter last year. Equities research analysts predict that CyberArk Software Ltd. will post -0.58 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC increased its position in shares of CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after purchasing an additional 9,570 shares in the last quarter. Groupama Asset Managment lifted its stake 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. RGM Capital LLC boosted its holdings in shares of CyberArk Software by 2.1% in the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after acquiring an additional 16,530 shares during the period. Whale Rock Capital Management LLC grew its position in shares of CyberArk Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after acquiring an additional 14,927 shares during the last quarter. Finally, Swedbank AB increased its holdings in shares of CyberArk Software by 11.1% in the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after acquiring an additional 45,799 shares during the period. 91.84% of the stock is owned by hedge funds and other institutional investors.

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.