CyberArk Software Ltd. (NASDAQ:CYBR) Stock Position Increased by Sycomore Asset Management

Sycomore Asset Management boosted its holdings in CyberArk Software Ltd. (NASDAQ:CYBR) by 36.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,781 shares of the technology company’s stock after buying an additional 16,294 shares during the period. CyberArk Software makes up 2.8% of Sycomore Asset Management’s investment portfolio, making the stock its 9th biggest holding. Sycomore Asset Management’s holdings in CyberArk Software were worth $15,973,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Mather Group LLC. purchased a new stake in shares of CyberArk Software during the second quarter worth $27,000. Montag A & Associates Inc. bought a new stake in shares of CyberArk Software during the 1st quarter valued at $27,000. ORG Partners LLC bought a new stake in shares of CyberArk Software during the 2nd quarter valued at $33,000. 1620 Investment Advisors Inc. purchased a new stake in CyberArk Software during the 2nd quarter worth about $39,000. Finally, FinTrust Capital Advisors LLC bought a new position in CyberArk Software in the 4th quarter worth about $34,000. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

CyberArk Software Stock Performance

Shares of CyberArk Software stock opened at $291.61 on Tuesday. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of -455.64 and a beta of 1.11. The company has a fifty day moving average of $271.19 and a 200-day moving average of $258.76. CyberArk Software Ltd. has a 52-week low of $152.03 and a 52-week high of $293.31.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative return on equity of 0.21% and a negative net margin of 1.53%. The firm had revenue of $224.71 million for the quarter, compared to analysts’ expectations of $219.06 million. During the same period last year, the firm earned ($0.58) earnings per share. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. On average, equities research analysts forecast that CyberArk Software Ltd. will post -1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CYBR shares. Robert W. Baird upped their price target on CyberArk Software from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Royal Bank of Canada initiated coverage on shares of CyberArk Software in a research note on Friday, September 20th. They issued an “outperform” rating and a $328.00 target price on the stock. KeyCorp boosted their price target on shares of CyberArk Software from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Friday, August 9th. Finally, Canaccord Genuity Group dropped their price objective on CyberArk Software from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and an average price target of $295.92.

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.