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

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price reached a new 52-week high during 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.

Analysts Set New Price Targets

Several analysts have weighed in on CYBR shares. UBS Group raised their price target on CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC raised their target price on shares of CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. Morgan Stanley reissued an “equal weight” rating and issued a $316.00 price target on shares of CyberArk Software in a research note on Tuesday, December 31st. Cantor Fitzgerald restated an “overweight” rating and set a $415.00 price objective on shares of CyberArk Software in a research report on Monday, January 27th. Finally, Truist Financial upped their target price on shares of CyberArk Software from $350.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $371.89.

CyberArk Software Trading Up 1.1 %

The business has a fifty day moving average of $337.03 and a 200-day moving average of $301.09. The company has a market cap of $16.57 billion, a PE ratio of 1,408.72 and a beta of 1.15.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. During the same period in the previous year, the firm earned ($0.31) earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year. As a group, research analysts predict that CyberArk Software Ltd. will post -0.58 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

A number of large investors have recently modified their holdings of the stock. Nepsis Inc. raised its stake in CyberArk Software by 882.4% in the fourth 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. Jennison Associates LLC raised its position in shares of CyberArk Software by 32.3% in the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock worth $534,287,000 after acquiring an additional 391,900 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position 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 worth $170,614,000 after acquiring an additional 336,462 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of CyberArk Software in the 3rd quarter valued at approximately $82,485,000. Finally, Swedbank AB boosted its position in shares of CyberArk Software by 19.0% during the fourth quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock valued at $181,600,000 after purchasing an additional 87,201 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.