CyberArk Software (NASDAQ:CYBR) Sets New 12-Month High at $294.89

CyberArk Software Ltd. (NASDAQ:CYBR)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $294.89 and last traded at $289.09, with a volume of 30334 shares trading hands. The stock had previously closed at $291.61.

Analyst Ratings Changes

CYBR has been the topic of several recent analyst reports. Robert W. Baird increased their price target on CyberArk Software from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $300.00 target price on shares of CyberArk Software in a research report on Friday, August 9th. Canaccord Genuity Group cut their price target on shares of CyberArk Software from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Wedbush lifted their price objective on shares of CyberArk Software from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Susquehanna upped their target price on shares of CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $295.92.

CyberArk Software Stock Down 4.7 %

The company has a market capitalization of $11.74 billion, a PE ratio of -455.64 and a beta of 1.11. The business has a 50 day simple moving average of $271.19 and a 200 day simple moving average of $258.76.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Thursday, August 8th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. CyberArk Software had a negative net margin of 1.53% and a negative return on equity of 0.21%. The company had revenue of $224.71 million during the quarter, compared to analysts’ expectations of $219.06 million. During the same period last year, the business earned ($0.58) EPS. CyberArk Software’s revenue for the quarter was up 27.8% on a year-over-year basis. Equities analysts expect that CyberArk Software Ltd. will post -1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in CyberArk Software by 64.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,345 shares of the technology company’s stock valued at $1,951,000 after purchasing an additional 2,885 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in CyberArk Software by 29.3% in the 1st quarter. Congress Asset Management Co. MA now owns 50,097 shares of the technology company’s stock worth $13,307,000 after buying an additional 11,345 shares during the period. Contour Asset Management LLC acquired a new stake in CyberArk Software during the 4th quarter valued at approximately $48,605,000. Russell Investments Group Ltd. boosted its holdings in shares of CyberArk Software by 58.3% in the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company’s stock valued at $8,830,000 after acquiring an additional 12,242 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of CyberArk Software in the first quarter worth $2,741,000. 91.84% of the stock is owned by institutional investors and hedge funds.

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.