CyberArk Software (NASDAQ:CYBR) Hits New 12-Month High – Should You Buy?

CyberArk Software Ltd. (NASDAQ:CYBR)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $332.69 and last traded at $332.68, with a volume of 64435 shares. The stock had previously closed at $329.71.

Analyst Upgrades and Downgrades

CYBR has been the topic of a number of recent research reports. Wedbush lifted their price objective on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $335.00 price target on shares of CyberArk Software in a research note on Thursday, November 14th. Mizuho increased their price objective on CyberArk Software from $310.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Citigroup boosted their target price on shares of CyberArk Software from $305.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada upped their target price on shares of CyberArk Software from $328.00 to $358.00 and gave the stock an “outperform” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Stock Performance

The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 1,197.16 and a beta of 1.13. The business’s 50-day simple moving average is $299.12 and its 200-day simple moving average is $275.80.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data 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 net margin of 1.38% and a return on equity of 2.29%. The business had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same period in the prior year, the business posted ($0.31) earnings per share. CyberArk Software’s revenue was up 25.6% compared to the same quarter last year. On average, analysts forecast that CyberArk Software Ltd. will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CYBR. International Assets Investment Management LLC acquired a new position in CyberArk Software during the third quarter valued at approximately $82,485,000. Anomaly Capital Management LP bought a new position in shares of CyberArk Software during the second quarter worth $49,145,000. Clearbridge Investments LLC boosted its position in shares of CyberArk Software by 250.0% during the second quarter. Clearbridge Investments LLC now owns 224,381 shares of the technology company’s stock worth $61,350,000 after purchasing an additional 160,269 shares in the last quarter. Hood River Capital Management LLC grew its holdings in shares of CyberArk Software by 59.2% in the 2nd quarter. Hood River Capital Management LLC now owns 223,584 shares of the technology company’s stock valued at $61,132,000 after buying an additional 83,172 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of CyberArk Software by 89.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 167,305 shares of the technology company’s stock valued at $45,745,000 after buying an additional 78,887 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors.

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.