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CyberArk Software (NASDAQ:CYBR) Reaches New 12-Month High Following Analyst Upgrade

CyberArk Software logo with Computer and Technology background

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report)'s share price hit a new 52-week high on Wednesday after Scotiabank raised their price target on the stock from $340.00 to $400.00. Scotiabank currently has a sector outperform rating on the stock. CyberArk Software traded as high as $364.18 and last traded at $356.49, with a volume of 41463 shares trading hands. The stock had previously closed at $355.58.

Several other equities analysts have also recently weighed in on CYBR. Mizuho raised their price target on shares of CyberArk Software from $345.00 to $365.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. KeyCorp upped their price target on CyberArk Software from $355.00 to $400.00 and gave the stock an "overweight" rating in a report on Tuesday. StockNews.com raised shares of CyberArk Software from a "hold" rating to a "buy" rating in a report on Monday, December 9th. BTIG Research raised their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Finally, Wedbush lifted their price target on CyberArk Software from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $358.74.

Read Our Latest Stock Report on CyberArk Software

Institutional Investors Weigh In On CyberArk Software

Several institutional investors have recently bought and sold shares of the stock. Ensign Peak Advisors Inc bought a new stake in shares of CyberArk Software in the second quarter worth about $711,000. HighTower Advisors LLC lifted its position in CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company's stock valued at $4,212,000 after purchasing an additional 2,062 shares during the period. Sycomore Asset Management boosted its holdings in CyberArk Software by 36.6% in the second quarter. Sycomore Asset Management now owns 60,781 shares of the technology company's stock worth $15,973,000 after purchasing an additional 16,294 shares during the last quarter. Groupama Asset Managment grew its position in CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company's stock worth $304,000 after purchasing an additional 5,402 shares during the period. Finally, Jennison Associates LLC raised its stake in CyberArk Software by 0.8% during the 3rd quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company's stock valued at $353,386,000 after buying an additional 9,570 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

CyberArk Software Stock Performance

The stock has a market capitalization of $15.57 billion, a P/E ratio of 1,323.77 and a beta of 1.13. The firm has a fifty day moving average price of $325.25 and a two-hundred day moving average price of $293.63.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced 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. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The business had revenue of $240.10 million for the quarter, compared to analysts' expectations of $234.10 million. During the same period last year, the firm posted ($0.31) earnings per share. The business's revenue for the quarter was up 25.6% on a year-over-year basis. On average, research analysts anticipate that CyberArk Software Ltd. will post -0.58 earnings per share for the current fiscal year.

CyberArk Software Company Profile

(Get Free Report)

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.

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