CyberArk Software (NASDAQ:CYBR) Trading 7.9% Higher - Here's What Happened

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report)'s share price shot up 7.9% on Tuesday . The company traded as high as $330.04 and last traded at $330.30. 500,175 shares changed hands during trading, a decline of 3% from the average session volume of 514,910 shares. The stock had previously closed at $305.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CYBR shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $420.00 price objective on shares of CyberArk Software in a report on Friday. Barclays boosted their price target on CyberArk Software from $375.00 to $450.00 and gave the stock an "overweight" rating in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on CyberArk Software from $375.00 to $431.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. JMP Securities boosted their target price on CyberArk Software from $390.00 to $480.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Finally, Scotiabank increased their price target on CyberArk Software from $340.00 to $400.00 and gave the company a "sector outperform" rating in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, CyberArk Software presently has a consensus rating of "Moderate Buy" and an average price target of $418.39.

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CyberArk Software Stock Performance

The firm has a market capitalization of $17.27 billion, a price-to-earnings ratio of -179.20 and a beta of 1.00. The firm's 50-day moving average price is $356.48 and its two-hundred day moving average price is $330.68.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates 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, equities research analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC grew its holdings in shares of CyberArk Software by 32.3% in the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company's stock worth $534,287,000 after purchasing an additional 391,900 shares during the last quarter. Thoma Bravo L.P. bought a new stake in CyberArk Software during the fourth quarter worth about $380,637,000. First Trust Advisors LP increased its holdings in shares of CyberArk Software by 2.3% during the fourth quarter. First Trust Advisors LP now owns 939,768 shares of the technology company's stock worth $313,084,000 after buying an additional 20,832 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of 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 acquiring an additional 68,359 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of CyberArk Software in the 4th quarter worth approximately $203,375,000. 91.84% of the stock is owned by institutional investors.

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.