CyberArk Software (NASDAQ:CYBR) Sees Large Volume Increase - Should You Buy?

Key Points

• CyberArk Software shares experienced a significant trading volume increase of 8%, with approximately 1,000,709 shares changing hands during mid-day trading on Tuesday.
• Analysts have set a range of new price targets for CyberArk, with a consensus rating of "Hold" and an average price target of $435.11.
• CyberArk reported earnings of $0.88 per share, exceeding the consensus estimate of $0.79, with revenue rising 46% year-over-year to $328.03 million.

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 1,000,709 shares traded hands during mid-day trading, an increase of 8% from the previous session's volume of 929,224 shares.The stock last traded at $471.07 and had previously closed at $475.95.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CYBR shares. Wedbush reaffirmed a "neutral" rating and issued a $450.00 price objective on shares of CyberArk Software in a research note on Thursday, July 31st. Robert W. Baird reissued a "neutral" rating and issued a $460.00 target price on shares of CyberArk Software in a research report on Friday, August 1st. BTIG Research downgraded shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Stifel Nicolaus reissued a "hold" rating and issued a $444.00 target price on shares of CyberArk Software in a research report on Thursday, July 31st. Finally, Piper Sandler restated a "neutral" rating and set a $448.00 price target (up from $440.00) on shares of CyberArk Software in a report on Thursday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $435.11.

CyberArk Software Price Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 2.31 and a quick ratio of 2.31. The stock has a market capitalization of $23.50 billion, a price-to-earnings ratio of -141.33 and a beta of 1.03. The stock's 50 day simple moving average is $420.77 and its 200-day simple moving average is $381.60.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 company's revenue was up 46.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. On average, analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

Institutional Trading of CyberArk Software

A number of institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. lifted its stake in shares of CyberArk Software by 12.2% in the first quarter. Invesco Ltd. now owns 1,129,894 shares of the technology company's stock worth $381,904,000 after buying an additional 122,423 shares during the last quarter. First Trust Advisors LP raised its stake in CyberArk Software by 9.1% during the 2nd quarter. First Trust Advisors LP now owns 1,129,845 shares of the technology company's stock valued at $459,711,000 after purchasing an additional 94,318 shares during the last quarter. Norges Bank acquired a new position in CyberArk Software during the 2nd quarter valued at $444,613,000. Price T Rowe Associates Inc. MD raised its stake in CyberArk Software by 1,598.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company's stock valued at $330,964,000 after purchasing an additional 921,523 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in CyberArk Software by 0.7% during the 1st quarter. Voya Investment Management LLC now owns 888,898 shares of the technology company's stock valued at $300,448,000 after purchasing an additional 6,314 shares during the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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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