CyberArk Software (NASDAQ:CYBR) Issues Earnings Results, Beats Expectations By $0.28 EPS

CyberArk Software (NASDAQ:CYBR) announced its quarterly earnings results on Thursday. The technology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.28, Briefing.com reports. The firm had revenue of $342.84 million during the quarter, compared to the consensus estimate of $328.52 million. CyberArk Software had a positive return on equity of 0.44% and a negative net margin of 13.78%.The firm’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS.

CyberArk Software Stock Performance

NASDAQ CYBR traded up $1.47 during trading hours on Friday, hitting $503.87. The company had a trading volume of 286,933 shares, compared to its average volume of 862,953. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53. The firm has a market cap of $25.43 billion, a P/E ratio of -149.52 and a beta of 1.01. CyberArk Software has a fifty-two week low of $288.00 and a fifty-two week high of $526.19. The business has a fifty day simple moving average of $490.51 and a 200-day simple moving average of $425.47.

Analyst Ratings Changes

A number of analysts have recently issued reports on CYBR shares. Needham & Company LLC lifted their price objective on shares of CyberArk Software from $460.00 to $551.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Piper Sandler reissued a “neutral” rating and set a $448.00 price target (up previously from $440.00) on shares of CyberArk Software in a research report on Thursday, July 31st. Robert W. Baird restated a “neutral” rating and issued a $460.00 price target on shares of CyberArk Software in a research note on Friday, August 1st. Barclays reaffirmed an “equal weight” rating and issued a $520.00 price target (up from $440.00) on shares of CyberArk Software in a report on Tuesday, October 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $420.00 price objective on shares of CyberArk Software in a report on Tuesday, July 22nd. Nine investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, CyberArk Software currently has an average rating of “Hold” and a consensus target price of $451.69.

Institutional Trading of CyberArk Software

Several hedge funds have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board grew its stake in shares of CyberArk Software by 0.4% in the second quarter. Public Sector Pension Investment Board now owns 23,494 shares of the technology company’s stock worth $9,559,000 after purchasing an additional 100 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of CyberArk Software by 245.6% during the 2nd quarter. Rakuten Securities Inc. now owns 197 shares of the technology company’s stock worth $80,000 after buying an additional 140 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of CyberArk Software by 3.7% in the second quarter. NewEdge Advisors LLC now owns 7,478 shares of the technology company’s stock valued at $3,043,000 after acquiring an additional 266 shares in the last quarter. Sandler Capital Management increased its stake in shares of CyberArk Software by 4.2% during the second quarter. Sandler Capital Management now owns 7,237 shares of the technology company’s stock valued at $2,945,000 after acquiring an additional 292 shares during the period. Finally, ICONIQ Capital LLC acquired a new position in shares of CyberArk Software during the second quarter valued at approximately $202,000. 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.