CyberArk Software (NASDAQ:CYBR) Sets New 52-Week High – Still a Buy?

CyberArk Software Ltd. (NASDAQ:CYBR) reached a new 52-week high during trading on Tuesday . The company traded as high as $419.49 and last traded at $415.23, with a volume of 1005808 shares changing hands. The stock had previously closed at $414.31.

Wall Street Analysts Forecast Growth

CYBR has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on CyberArk Software from $425.00 to $500.00 and gave the company an “overweight” rating in a report on Friday, February 14th. UBS Group boosted their target price on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Piper Sandler boosted their target price on CyberArk Software from $380.00 to $440.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Rosenblatt Securities boosted their target price on CyberArk Software from $415.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Royal Bank of Canada boosted their target price on CyberArk Software from $385.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $401.67.

CyberArk Software Stock Down 2.0 %

The firm has a 50 day simple moving average of $353.44 and a 200-day simple moving average of $311.47. The stock has a market cap of $17.47 billion, a P/E ratio of -205.63 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a negative net margin of 9.34% and a positive return on equity of 0.45%. On average, equities analysts anticipate that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Large investors have recently made changes to their positions in the company. Creative Planning increased its position in CyberArk Software by 14.0% during the 3rd quarter. Creative Planning now owns 11,971 shares of the technology company’s stock worth $3,491,000 after buying an additional 1,471 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in CyberArk Software by 26.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,123 shares of the technology company’s stock worth $1,202,000 after acquiring an additional 852 shares during the period. Blue Trust Inc. raised its stake in CyberArk Software by 49.4% in the 3rd quarter. Blue Trust Inc. now owns 1,155 shares of the technology company’s stock worth $316,000 after purchasing an additional 382 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in CyberArk Software by 45.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 171,893 shares of the technology company’s stock valued at $50,126,000 after purchasing an additional 53,502 shares during the period. Finally, Signaturefd LLC grew its position in shares of CyberArk Software by 4.2% during the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock worth $352,000 after purchasing an additional 49 shares in 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.