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

Shares of CyberArk Software Ltd. (NASDAQ:CYBR) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $318.64 and last traded at $314.32, with a volume of 35325 shares changing hands. The stock had previously closed at $315.00.

Analyst Upgrades and Downgrades

CYBR has been the topic of several research analyst reports. KeyCorp upped their target price on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Mizuho boosted their target price on shares of CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Rosenblatt Securities restated a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a report on Friday, August 9th. Finally, Stifel Nicolaus lifted their price target on shares of CyberArk Software from $306.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Price Performance

The firm has a market capitalization of $14.34 billion, a PE ratio of 1,219.07 and a beta of 1.13. The business’s 50 day moving average is $288.08 and its two-hundred day moving average is $268.96.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings data 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 company had revenue of $240.10 million during the quarter, compared to the consensus estimate 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 was up 25.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.31) EPS. Analysts expect that CyberArk Software Ltd. will post -0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently bought and sold shares of CYBR. Quadrature Capital Ltd purchased a new stake in shares of CyberArk Software during the first quarter worth about $2,741,000. Price T Rowe Associates Inc. MD grew its position in shares of CyberArk Software by 715.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company’s stock worth $14,946,000 after buying an additional 49,360 shares during the last quarter. Ensign Peak Advisors Inc bought a new position in shares of CyberArk Software during the second quarter valued at approximately $711,000. 1832 Asset Management L.P. lifted its stake in CyberArk Software by 1,291.7% in the first quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company’s stock worth $102,630,000 after acquiring an additional 358,602 shares during the period. Finally, Sycomore Asset Management increased its position in CyberArk Software by 36.6% during the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock valued at $15,973,000 after purchasing an additional 16,294 shares during the period. 91.84% of the stock is owned by hedge funds and other 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.