CyberArk Software (NASDAQ:CYBR) Sets New 1-Year High - Here's What Happened

Key Points

• CyberArk Software's stock reached a new 52-week high of $482.32 during mid-day trading, showing strong market performance.
• Investment analysts are divided, with some ratings dropping to "hold" while others increased price targets, resulting in a consensus rating of "Hold" and an average price target of $435.11.
• The company reported a 46% year-over-year revenue increase, beating earnings expectations with $0.88 earnings per share compared to the consensus estimate of $0.79.

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $482.32 and last traded at $480.67, with a volume of 585877 shares traded. The stock had previously closed at $475.94.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CYBR. UBS Group cut CyberArk Software from a "strong-buy" rating to a "hold" rating and upped their price target for the stock from $480.00 to $485.00 in a research report on Thursday, July 31st. Robert W. Baird reiterated a "neutral" rating and set a $460.00 target price on shares of CyberArk Software in a research report on Friday, August 1st. Oppenheimer reiterated a "market perform" rating on shares of CyberArk Software in a research report on Friday, August 1st. KeyCorp cut CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus reiterated a "hold" rating and set a $444.00 target price on shares of CyberArk Software in a research report on Thursday, July 31st. Fourteen investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $435.11.

CyberArk Software Price Performance

The firm has a market capitalization of $24.25 billion, a P/E ratio of -145.59 and a beta of 1.03. The firm has a 50 day moving average price of $428.39 and a 200-day moving average price of $384.79. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.53.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC increased its holdings in shares of CyberArk Software by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 78 shares of the technology company's stock valued at $26,000 after acquiring an additional 39 shares during the period. Whipplewood Advisors LLC increased its holdings in shares of CyberArk Software by 135.3% in the 1st quarter. Whipplewood Advisors LLC now owns 80 shares of the technology company's stock valued at $27,000 after acquiring an additional 46 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of CyberArk Software in the 2nd quarter valued at $30,000. NewSquare Capital LLC increased its holdings in shares of CyberArk Software by 78.0% in the 2nd quarter. NewSquare Capital LLC now owns 73 shares of the technology company's stock valued at $30,000 after acquiring an additional 32 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of CyberArk Software by 421.1% in the 1st 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.