CyberArk Software (NASDAQ:CYBR) Reaches New 12-Month High - Here's What Happened

Key Points

• CyberArk Software hit a new 52-week high of $471.20, with a closing price of $469.49 and a trading volume of 428,286 shares.
• Several analysts have given CyberArk a mixed outlook, with price targets ranging from $444.00 to $450.00, and an average rating of "Hold."
• The company reported a 46% year-over-year revenue increase for the quarter, with earnings per share of $0.88, beating estimates.

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $471.20 and last traded at $469.49, with a volume of 428286 shares trading hands. The stock had previously closed at $468.80.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stephens downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Royal Bank Of Canada restated a "sector perform" rating and issued a $448.00 price objective (up previously from $420.00) on shares of CyberArk Software in a research note on Thursday, July 31st. Cantor Fitzgerald restated an "overweight" rating and issued a $420.00 price objective on shares of CyberArk Software in a research note on Tuesday, July 22nd. Piper Sandler restated a "neutral" rating and issued a $448.00 price objective (up previously from $440.00) on shares of CyberArk Software in a research note on Thursday, July 31st. Finally, William Blair downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to data from MarketBeat, CyberArk Software currently has an average rating of "Hold" and a consensus price target of $435.11.

CyberArk Software Stock Down 1.0%

The stock has a market capitalization of $23.05 billion, a PE ratio of -138.37 and a beta of 1.03. The firm's fifty day moving average is $419.28 and its 200-day moving average is $380.62. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CYBR. Nuveen Asset Management LLC increased its holdings in CyberArk Software by 6.3% in the fourth quarter. Nuveen Asset Management LLC now owns 123,051 shares of the technology company's stock valued at $40,994,000 after buying an additional 7,325 shares in the last quarter. Man Group plc increased its holdings in CyberArk Software by 17.9% in the fourth quarter. Man Group plc now owns 20,735 shares of the technology company's stock valued at $6,908,000 after buying an additional 3,142 shares in the last quarter. Quantinno Capital Management LP increased its holdings in CyberArk Software by 5.3% in the fourth quarter. Quantinno Capital Management LP now owns 1,636 shares of the technology company's stock valued at $545,000 after buying an additional 83 shares in the last quarter. Shay Capital LLC purchased a new position in CyberArk Software in the fourth quarter valued at about $267,000. Finally, Snowden Capital Advisors LLC purchased a new position in CyberArk Software in the fourth quarter valued at about $239,000. 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.