CyberArk Software (NASDAQ:CYBR) Hits New 52-Week High - Here's Why

Key Points

• CyberArk Software shares reached a new 52-week high of $493.85, closing at $491.10 with a trading volume of 438,044 shares.
• Despite recent price increases, several analysts have downgraded their ratings on the stock to "Hold," with target prices ranging from $444.00 to $485.00.
• The company reported a 46% increase in revenue year-over-year, with earnings per share of $0.88, surpassing analysts' expectations of $0.79.

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $493.85 and last traded at $491.10, with a volume of 438044 shares. The stock had previously closed at $490.64.

Wall Street Analysts Forecast Growth

CYBR has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a "hold" rating and set a $444.00 target price on shares of CyberArk Software in a research note on Thursday, July 31st. KeyCorp downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. UBS Group downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and increased their price objective for the company from $480.00 to $485.00 in a research report on Thursday, July 31st. Guggenheim downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $455.00 price objective on the stock. in a research report on Thursday, July 31st. Finally, Wedbush reissued a "neutral" rating and issued a $450.00 price objective on shares of CyberArk Software in a research report on Thursday, July 31st. Fourteen research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, CyberArk Software has an average rating of "Hold" and a consensus target price of $435.11.

CyberArk Software Price Performance

The company has a market cap of $24.28 billion, a price-to-earnings ratio of -145.73 and a beta of 1.03. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53. The company's 50 day moving average price is $430.67 and its 200 day moving average price is $386.37.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $328.03 million during the quarter, compared to the consensus estimate of $315.43 million. During the same quarter last year, the firm posted $0.54 EPS. The business's revenue was up 46.0% compared to the same quarter last year. Equities research analysts forecast that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. boosted its position in shares of CyberArk Software by 421.1% in the first quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock worth $33,000 after acquiring an additional 80 shares during the last quarter. Golden State Wealth Management LLC lifted its position in CyberArk Software by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock valued at $26,000 after buying an additional 39 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in CyberArk Software by 17.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,868 shares of the technology company's stock valued at $627,000 after buying an additional 280 shares in the last quarter. Blue Trust Inc. lifted its position in CyberArk Software by 5.9% during the first quarter. Blue Trust Inc. now owns 1,099 shares of the technology company's stock valued at $371,000 after buying an additional 61 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in CyberArk Software by 9.1% during the first quarter. Yousif Capital Management LLC now owns 2,235 shares of the technology company's stock valued at $755,000 after buying an additional 187 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.