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

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) reached 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 Upgrades and Downgrades

Several research firms have commented on CYBR. Robert W. Baird increased their price objective on shares of CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Oppenheimer increased their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Wedbush increased their target price on shares of CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Truist Financial reissued a “buy” rating and issued a $350.00 target price (up previously from $300.00) on shares of CyberArk Software in a research note on Thursday, November 14th. Finally, Barclays increased their target price on shares of CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $350.22.

CyberArk Software Stock Performance

The company’s fifty day simple moving average is $322.94 and its 200-day simple moving average is $292.18. The company has a market capitalization of $15.49 billion, a P/E ratio of 1,316.75 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping 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 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 business earned ($0.31) EPS. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts predict that CyberArk Software Ltd. will post -0.58 EPS for the current year.

Institutional Trading of CyberArk Software

A number of institutional investors have recently modified their holdings of the company. Coldstream Capital Management Inc. boosted its holdings in shares of CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after buying an additional 42 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of CyberArk Software by 2.5% in the 3rd quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after buying an additional 45 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of CyberArk Software by 4.2% in the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock valued at $352,000 after buying an additional 49 shares in the last quarter. Austin Private Wealth LLC boosted its holdings in shares of CyberArk Software by 6.8% in the 3rd quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after buying an additional 52 shares in the last quarter. Finally, Juncture Wealth Strategies LLC boosted its holdings in shares of CyberArk Software by 2.1% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock valued at $825,000 after buying an additional 57 shares in the last quarter. 91.84% of the stock is currently 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.