CyberArk Software (NASDAQ:CYBR) Hits New 52-Week High - What's Next?

Key Points

• CyberArk Software's stock reached a new 52-week high, trading at $496.30, with a last trade at $490.90 and a volume of 39,177 shares.
• Equities analysts have issued mixed ratings on CyberArk, with twelve rating it as a Buy and nineteen as Hold, leading to an average target price of $439.00.
• The company's recent earnings report showed a positive earnings per share of $0.88, surpassing estimates, and a year-over-year revenue increase of 46% to $328.03 million.

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $496.30 and last traded at $490.90, with a volume of 39177 shares changing hands. The stock had previously closed at $490.17.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CYBR shares. KeyCorp downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Citizens Jmp downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. Oppenheimer restated a "market perform" rating on shares of CyberArk Software in a research note on Friday, August 1st. Stephens downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Finally, Piper Sandler reissued a "neutral" rating and issued a $448.00 target price (up from $440.00) on shares of CyberArk Software in a report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $439.00.

CyberArk Software Trading Up 0.0%

The business has a 50 day simple moving average of $444.86 and a 200-day simple moving average of $392.98. 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 stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of -145.70 and a beta of 1.01.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its earnings results on Wednesday, July 30th. The technology company reported $0.88 earnings per share 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 business had revenue of $328.03 million for the quarter, compared to analyst estimates of $315.43 million. During the same quarter in the previous year, the business posted $0.54 EPS. The business's quarterly revenue was up 46.0% on a year-over-year basis. On average, equities analysts predict that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On CyberArk Software

Several hedge funds have recently modified their holdings of the stock. Golden State Wealth Management LLC raised its stake in shares of 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 purchasing an additional 39 shares during the period. Whipplewood Advisors LLC grew its holdings in shares of CyberArk Software by 135.3% during the first quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock valued at $27,000 after purchasing an additional 46 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in CyberArk Software during the 2nd quarter valued at approximately $30,000. NewSquare Capital LLC lifted its stake in CyberArk Software by 78.0% in the second quarter. NewSquare Capital LLC now owns 73 shares of the technology company's stock valued at $30,000 after buying an additional 32 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of CyberArk Software by 421.1% during the first quarter. Bessemer Group Inc. now owns 99 shares of the technology company's stock valued at $33,000 after acquiring an additional 80 shares during the period. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

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.

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