CyberArk Software (NASDAQ:CYBR) Reaches New 12-Month High on Analyst Upgrade

Shares of CyberArk Software Ltd. (NASDAQ:CYBRGet Free Report) hit a new 52-week high during trading on Tuesday after Truist Financial raised their price target on the stock from $350.00 to $385.00. Truist Financial currently has a buy rating on the stock. CyberArk Software traded as high as $373.44 and last traded at $370.55, with a volume of 94273 shares trading hands. The stock had previously closed at $359.46.

CYBR has been the subject of a number of other reports. Scotiabank lifted their price target on CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $316.00 price target on shares of CyberArk Software in a report on Tuesday, December 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $415.00 price target on shares of CyberArk Software in a research report on Monday. Robert W. Baird lifted their price objective 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. Finally, Canaccord Genuity Group increased their target price on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, CyberArk Software currently has an average rating of “Moderate Buy” and an average target price of $363.56.

Get Our Latest Research Report on CyberArk Software

Hedge Funds Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nepsis Inc. boosted its holdings in shares of CyberArk Software by 882.4% in the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock valued at $187,339,000 after buying an additional 505,088 shares during the period. Jennison Associates LLC lifted its position in CyberArk Software by 32.3% in the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after acquiring an additional 391,900 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in CyberArk Software by 195.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock worth $170,614,000 after purchasing an additional 336,462 shares during the period. International Assets Investment Management LLC bought a new position in CyberArk Software during the 3rd quarter worth about $82,485,000. Finally, Clearbridge Investments LLC raised its stake in shares of CyberArk Software by 250.0% in the 2nd quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock valued at $61,350,000 after purchasing an additional 160,269 shares during the period. Institutional investors and hedge funds own 91.84% of the company’s stock.

CyberArk Software Stock Down 1.9 %

The company has a market capitalization of $16.06 billion, a P/E ratio of 1,364.94 and a beta of 1.13. The business has a fifty day moving average price of $332.21 and a 200 day moving average price of $297.43.

CyberArk Software (NASDAQ:CYBRGet Free Report) last announced its quarterly earnings data 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. The company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. CyberArk Software’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.31) EPS. As a group, equities analysts forecast that CyberArk Software Ltd. will post -0.58 earnings per share for the current year.

CyberArk Software Company Profile

(Get Free Report)

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.

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