CyberArk Software (NASDAQ:CYBR) Sets New 12-Month High - What's Next?

Key Points

• CyberArk Software shares reached a new 52-week high of $509.46, up from a previous close of $499.23, with trading volume of 26,907 shares.
• Twelve analysts have rated CyberArk with a Buy rating, while nineteen have assigned a Hold rating, indicating mixed market sentiment but a consensus price target of $439.00.
• The company's latest quarterly earnings report revealed an EPS of $0.88, surpassing estimates, with revenues of $328.03 million, a 46% increase from the previous year.

CyberArk Software Ltd. (NASDAQ:CYBR - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $507.97 and last traded at $509.46, with a volume of 26907 shares trading hands. The stock had previously closed at $499.23.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CYBR. KeyCorp cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. 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. Needham & Company LLC boosted their target price on shares of CyberArk Software from $460.00 to $551.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. UBS Group cut shares of CyberArk Software from a "strong-buy" rating to a "hold" rating and boosted their target price for the company from $480.00 to $485.00 in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $420.00 price objective on shares of CyberArk Software in a research report on Tuesday, July 22nd. Twelve investment analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $439.00.

CyberArk Software Stock Performance

The company has a 50 day simple moving average of $453.18 and a 200 day simple moving average of $397.44. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53. The stock has a market cap of $25.71 billion, a price-to-earnings ratio of -151.10 and a beta of 1.01.

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

Institutional Trading of CyberArk Software

Institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC lifted its position in CyberArk Software by 3.6% during the 1st quarter. Venturi Wealth Management LLC now owns 834 shares of the technology company's stock worth $282,000 after acquiring an additional 29 shares during the period. Prudential PLC lifted its position in CyberArk Software by 2.4% during the 1st quarter. Prudential PLC now owns 1,277 shares of the technology company's stock worth $432,000 after acquiring an additional 30 shares during the period. MAI Capital Management lifted its position in CyberArk Software by 1.1% during the 1st quarter. MAI Capital Management now owns 2,756 shares of the technology company's stock worth $932,000 after acquiring an additional 31 shares during the period. NewSquare Capital LLC lifted its position in CyberArk Software by 78.0% during the 2nd quarter. NewSquare Capital LLC now owns 73 shares of the technology company's stock worth $30,000 after acquiring an additional 32 shares during the period. Finally, Y.D. More Investments Ltd lifted its position in CyberArk Software by 0.5% during the 1st quarter. Y.D. More Investments Ltd now owns 6,974 shares of the technology company's stock worth $2,415,000 after acquiring an additional 38 shares during the period. 91.84% of the stock is currently owned by 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.

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