CyberArk Software (NASDAQ:CYBR) Sets New 52-Week High – Still a Buy?

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) hit a new 52-week high on Tuesday . The company traded as high as $419.49 and last traded at $415.23, with a volume of 1005808 shares changing hands. The stock had previously closed at $414.31.

Wall Street Analysts Forecast Growth

CYBR has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on CyberArk Software from $330.00 to $440.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Oppenheimer lifted their price target on CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $415.00 price target on shares of CyberArk Software in a research report on Monday, January 27th. Stifel Nicolaus lifted their price target on CyberArk Software from $370.00 to $444.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lifted their price target on CyberArk Software from $375.00 to $431.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $401.67.

CyberArk Software Stock Performance

The company has a 50-day simple moving average of $353.44 and a 200-day simple moving average of $311.47. The stock has a market cap of $17.47 billion, a P/E ratio of -205.63 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. As a group, sell-side analysts expect that CyberArk Software Ltd. will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CyberArk Software

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of CyberArk Software by 32.3% during the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after acquiring an additional 391,900 shares during the last quarter. Thoma Bravo L.P. bought a new stake in shares of CyberArk Software during the fourth quarter worth $380,637,000. Groupama Asset Managment increased its holdings in CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after purchasing an additional 5,402 shares during the last quarter. First Trust Advisors LP increased its holdings in CyberArk Software by 2.3% in the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company’s stock valued at $313,084,000 after purchasing an additional 20,832 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in CyberArk Software by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 878,435 shares of the technology company’s stock valued at $292,651,000 after purchasing an additional 68,359 shares during the last quarter. Institutional investors own 91.84% of the company’s stock.

About CyberArk Software

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.