CyberArk Software (NASDAQ:CYBR) Hits New 12-Month High After Analyst Upgrade

CyberArk Software Ltd. (NASDAQ:CYBR) hit a new 52-week high during trading 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.

Several other research firms have also recently commented on CYBR. 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 note on Wednesday, December 18th. JMP Securities increased their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research note on Thursday, November 14th. KeyCorp lifted their target price on shares of CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Susquehanna increased their price target on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $350.00 price objective (up from $300.00) on shares of CyberArk Software in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $346.52.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CYBR. Fulton Bank N.A. grew its position in shares of CyberArk Software by 4.7% during the 4th quarter. Fulton Bank N.A. now owns 1,994 shares of the technology company’s stock worth $664,000 after buying an additional 90 shares during the period. Capital Market Strategies LLC bought a new position in CyberArk Software in the fourth quarter valued at approximately $827,000. Silverleafe Capital Partners LLC acquired a new stake in CyberArk Software during the 4th quarter worth $799,000. Nordea Investment Management AB raised its position in shares of CyberArk Software by 7.9% during the 4th quarter. Nordea Investment Management AB now owns 3,024 shares of the technology company’s stock valued at $993,000 after acquiring an additional 221 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of CyberArk Software in the 4th quarter valued at $860,000. 91.84% of the stock is currently owned by institutional investors.

CyberArk Software Stock Performance

The company has a 50-day moving average price of $314.25 and a 200-day moving average price of $288.66. The firm has a market capitalization of $15.01 billion, a P/E ratio of 1,276.16 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 (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.31) EPS. Equities analysts predict 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.