CyberArk Software (NASDAQ:CYBR) Reaches New 1-Year High After Analyst Upgrade

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report) shares hit a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $339.47.

A number of other equities research analysts have also recently commented on CYBR. Wedbush raised their price target on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st. Canaccord Genuity Group raised their target price on CyberArk Software from $310.00 to $330.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. KeyCorp upped their price target on CyberArk Software from $340.00 to $355.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their price objective on CyberArk Software from $350.00 to $410.00 and gave the company an "overweight" rating in a research note on Thursday, January 2nd. Finally, Oppenheimer upped their target price on CyberArk Software from $310.00 to $360.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. According to MarketBeat, CyberArk Software presently has a consensus rating of "Moderate Buy" and a consensus target price of $346.52.

Institutional Investors Weigh In On CyberArk Software

Several large investors have recently modified their holdings of CYBR. Capital Market Strategies LLC purchased a new position in CyberArk Software in the fourth quarter valued at approximately $827,000. Silverleafe Capital Partners LLC purchased a new position in shares of CyberArk Software during the 4th quarter valued at $799,000. Nordea Investment Management AB grew its stake 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 worth $993,000 after acquiring an additional 221 shares during the period. Central Pacific Bank Trust Division purchased a new stake in CyberArk Software in the 4th quarter worth about $860,000. Finally, Oddo BHF Asset Management Sas bought a new stake in CyberArk Software in the 3rd quarter valued at about $1,135,000. Hedge funds and other institutional investors own 91.84% of the company's stock.

CyberArk Software Price Performance

The firm has a market capitalization of $14.99 billion, a PE ratio of 1,273.75 and a beta of 1.13. The company's fifty day simple moving average is $313.09 and its 200 day simple moving average is $288.05.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The company had revenue of $240.10 million for the quarter, compared to analysts' expectations of $234.10 million. During the same period in the prior year, the company posted ($0.31) EPS. CyberArk Software's revenue was up 25.6% compared to the same quarter last year. On average, analysts anticipate that CyberArk Software Ltd. will post -0.58 earnings per share for the current fiscal 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.