CyberArk Software (NASDAQ:CYBR) Sets New 12-Month High Following Analyst Upgrade

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price reached a new 52-week high on Tuesday after Piper Sandler raised their price target on the stock from $345.00 to $380.00. Piper Sandler currently has an overweight rating on the stock. CyberArk Software traded as high as $348.24 and last traded at $345.92, with a volume of 429024 shares traded. The stock had previously closed at $339.47.

A number of other equities research analysts have also issued reports on the company. StockNews.com raised CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. DA Davidson raised their target price on shares of CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $335.00 price objective on shares of CyberArk Software in a research report on Thursday, November 14th. Wedbush lifted their price objective on shares of 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 boosted their target price on shares of CyberArk Software from $335.00 to $370.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $346.52.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Coldstream Capital Management Inc. raised its stake in CyberArk Software by 3.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after acquiring an additional 42 shares during the last quarter. Greenleaf Trust increased its holdings in shares of CyberArk Software by 2.5% in the third quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after purchasing an additional 45 shares during the period. Signaturefd LLC increased its holdings in shares of CyberArk Software by 4.2% in the third quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after purchasing an additional 49 shares during the period. Austin Private Wealth LLC raised its stake in shares of CyberArk Software by 6.8% during the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock worth $238,000 after purchasing an additional 52 shares during the last quarter. Finally, Juncture Wealth Strategies LLC lifted its holdings in shares of CyberArk Software by 2.1% during the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

CyberArk Software Stock Performance

The stock has a market capitalization of $15.07 billion, a PE ratio of 1,281.23 and a beta of 1.13. The business’s 50-day moving average is $313.09 and its two-hundred day moving average is $288.05.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The business had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. During the same quarter in the previous year, the firm earned ($0.31) earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Equities analysts forecast that CyberArk Software Ltd. will post -0.58 EPS for the current year.

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.