CyberArk Software (NASDAQ:CYBR) Sets New 52-Week High – Here’s Why

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $349.28 and last traded at $343.03, with a volume of 71967 shares. The stock had previously closed at $341.51.

Analyst Ratings Changes

Several research firms have recently commented on CYBR. StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Mizuho upped their target price on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Piper Sandler raised their price target on CyberArk Software from $345.00 to $380.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. UBS Group raised their target price on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Oppenheimer increased their price target on CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.22.

CyberArk Software Stock Performance

The firm’s 50 day simple moving average is $320.70 and its 200-day simple moving average is $291.34. The company has a market capitalization of $14.97 billion, a price-to-earnings ratio of 1,272.20 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results 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. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same period in the previous year, the firm earned ($0.31) earnings per share. CyberArk Software’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, equities analysts anticipate that CyberArk Software Ltd. will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of hedge funds have recently added to or reduced their stakes in CYBR. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of CyberArk Software during the 4th quarter worth $25,000. Assetmark Inc. increased its position in CyberArk Software by 1,025.0% during the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after buying an additional 123 shares during the last quarter. Transcendent Capital Group LLC bought a new position in CyberArk Software during the third quarter valued at about $51,000. Kieckhefer Group LLC acquired a new stake in shares of CyberArk Software in the fourth quarter worth about $67,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of CyberArk Software during the 3rd quarter worth about $87,000. Institutional investors and hedge funds 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.