CyberArk Software (NASDAQ:CYBR) Hits New 1-Year High – Still a Buy?

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Rosenblatt Securities raised their target price on CyberArk Software from $345.00 to $415.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Piper Sandler raised their price objective on shares of CyberArk Software from $345.00 to $380.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Canaccord Genuity Group increased their target price on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. DA Davidson lifted their price target on shares of CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $360.00 price target on shares of CyberArk Software in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $367.44.

CyberArk Software Stock Up 0.2 %

The stock’s 50 day moving average price is $335.12 and its 200-day moving average price is $299.49. The stock has a market capitalization of $16.25 billion, a PE ratio of 1,380.99 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last released 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 business had revenue of $240.10 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.31) EPS. On average, analysts forecast that CyberArk Software Ltd. will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On CyberArk Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in CyberArk Software by 32.3% during the fourth quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after purchasing an additional 391,900 shares in the last quarter. Groupama Asset Managment lifted its stake in CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after buying an additional 5,402 shares in the last quarter. Nepsis Inc. increased its stake in CyberArk Software by 882.4% during the 4th quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after buying an additional 505,088 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of CyberArk Software by 4.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 560,353 shares of the technology company’s stock valued at $186,682,000 after acquiring an additional 24,805 shares during the last quarter. Finally, Swedbank AB lifted its position in shares of CyberArk Software by 19.0% in the fourth quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock valued at $181,600,000 after acquiring an additional 87,201 shares in the last quarter. 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.