CyberArk Software (NASDAQ:CYBR) Reaches New 52-Week High - Should You Buy?

Key Points

• CyberArk Software shares reached a new 12-month high, trading at $440.00, with a significant increase in trading volume.
• Analysts have a positive outlook on the stock, with an average price target of $418.75 and 26 "buy" ratings, indicating strong investor confidence.
• The company reported a 43.3% year-over-year revenue increase, with $317.60 million in revenue for the last quarter, surpassing analyst expectations.

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $440.00 and last traded at $432.48, with a volume of 493593 shares trading hands. The stock had previously closed at $382.91.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CYBR shares. Wedbush downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $450.00 price target on the stock. in a research note on Thursday. Royal Bank Of Canada reissued a "sector perform" rating and issued a $448.00 price target (up from $420.00) on shares of CyberArk Software in a research note on Thursday. Wolfe Research cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Friday. Cantor Fitzgerald restated an "overweight" rating and issued a $420.00 price objective on shares of CyberArk Software in a report on Tuesday, July 22nd. Finally, UBS Group cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and lifted their price objective for the company from $480.00 to $485.00 in a report on Thursday. Seventeen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $433.39.

CyberArk Software Stock Performance

The firm's 50-day moving average is $391.99 and its 200 day moving average is $368.01. The stock has a market cap of $20.46 billion, a PE ratio of -122.85 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 2.31.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. CyberArk Software had a negative net margin of 13.78% and a positive return on equity of 0.44%. The firm had revenue of $328.03 million during the quarter, compared to the consensus estimate of $315.43 million. During the same quarter in the prior year, the firm earned $0.54 EPS. CyberArk Software's revenue for the quarter was up 46.0% on a year-over-year basis. As a group, research analysts anticipate that CyberArk Software Ltd. will post -0.47 EPS for the current year.

Hedge Funds Weigh In On CyberArk Software

A number of large investors have recently bought and sold shares of CYBR. Vanguard Group Inc. raised its position in CyberArk Software by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 74,029 shares of the technology company's stock worth $24,663,000 after buying an additional 662 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in CyberArk Software by 14.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 979 shares of the technology company's stock worth $326,000 after buying an additional 127 shares during the last quarter. Alliancebernstein L.P. raised its position in CyberArk Software by 144.8% during the 4th quarter. Alliancebernstein L.P. now owns 245,492 shares of the technology company's stock worth $81,786,000 after buying an additional 145,221 shares during the last quarter. Geode Capital Management LLC raised its position in CyberArk Software by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 392,006 shares of the technology company's stock worth $130,088,000 after buying an additional 19,775 shares during the last quarter. Finally, World Investment Advisors purchased a new position in CyberArk Software during the 4th quarter worth $583,000. Hedge funds and other 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.