CyberArk Software (NASDAQ:CYBR) Sets New 1-Year High – What’s Next?

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) hit a new 52-week high during trading on Wednesday . The stock traded as high as $349.28 and last traded at $343.03, with a volume of 71967 shares trading hands. The stock had previously closed at $341.51.

Analyst Ratings Changes

Several research analysts recently commented on CYBR shares. Needham & Company LLC lifted their target price on shares of CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. Mizuho boosted their price objective on CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Scotiabank initiated coverage on CyberArk Software in a research report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price target on the stock. Barclays raised their price objective on shares of CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Finally, Robert W. Baird boosted their price target on CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, CyberArk Software currently has an average rating of “Moderate Buy” and an average target price of $350.22.

CyberArk Software Price Performance

The stock’s 50 day simple moving average is $320.70 and its two-hundred day simple moving average is $291.34. The stock has a market cap of $14.97 billion, a P/E ratio of 1,272.20 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. The firm had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.31) EPS. As a group, analysts forecast that CyberArk Software Ltd. will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

Institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in CyberArk Software during the 4th quarter worth about $25,000. Assetmark Inc. raised its holdings 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 acquiring an additional 123 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in CyberArk Software during the third quarter valued at approximately $51,000. Kieckhefer Group LLC bought a new position in CyberArk Software in the fourth quarter valued at approximately $67,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of CyberArk Software during the 3rd quarter worth approximately $87,000. Institutional investors 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.