CyberArk Software (NASDAQ:CYBR) Reaches New 12-Month High – Time to Buy?

CyberArk Software Ltd. (NASDAQ:CYBR) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $378.78 and last traded at $373.37, with a volume of 86029 shares. The stock had previously closed at $372.00.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CYBR shares. Piper Sandler lifted their target price on CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Susquehanna upped their target price on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Royal Bank of Canada upped their price objective on CyberArk Software from $385.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 21st. Rosenblatt Securities lifted their target price on CyberArk Software from $345.00 to $415.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Mizuho increased their price target on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $367.44.

CyberArk Software Trading Up 0.2 %

The stock has a market cap of $16.25 billion, a price-to-earnings ratio of 1,380.99 and a beta of 1.15. The stock has a fifty day simple moving average of $335.12 and a 200-day simple moving average of $299.49.

CyberArk Software (NASDAQ:CYBR) last announced 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 business had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.31) EPS. Sell-side analysts forecast that CyberArk Software Ltd. will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of CyberArk Software

Several large investors have recently made changes to their positions in CYBR. Nepsis Inc. raised its position in shares of CyberArk Software by 882.4% during the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock valued at $187,339,000 after acquiring an additional 505,088 shares during the last quarter. Jennison Associates LLC grew its position in shares of CyberArk Software by 32.3% during the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after buying an additional 391,900 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of CyberArk Software by 195.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock valued at $170,614,000 after acquiring an additional 336,462 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of CyberArk Software in the 3rd quarter valued at approximately $82,485,000. Finally, Swedbank AB boosted its stake in CyberArk Software by 19.0% during the 4th quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock worth $181,600,000 after acquiring an additional 87,201 shares during the last quarter. 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.