Benchmark Investment Advisors LLC Makes New Investment in CyberArk Software Ltd. $CYBR

Key Points

• Benchmark Investment Advisors LLC has acquired 3,147 shares of CyberArk Software Ltd. valued at approximately $1,064,000 in the first quarter of 2023.
• Several hedge funds, including Baird Financial Group Inc. and Panagora Asset Management Inc., have significantly increased their stakes in CyberArk, indicating strong institutional interest.
• Analysts' ratings for CyberArk stock are mixed, with an average rating of "Hold" and a price target of $435.11, reflecting varied outlooks on the company's future performance.

Benchmark Investment Advisors LLC acquired a new stake in CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 3,147 shares of the technology company's stock, valued at approximately $1,064,000.

Several other institutional investors and hedge funds have also modified their holdings of CYBR. Thoma Bravo L.P. acquired a new position in shares of CyberArk Software in the 4th quarter valued at approximately $380,637,000. Price T Rowe Associates Inc. MD grew its position in shares of CyberArk Software by 1,598.3% in 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 period. Congress Asset Management Co. grew its position in shares of CyberArk Software by 304.2% in the 1st quarter. Congress Asset Management Co. now owns 332,770 shares of the technology company's stock valued at $112,476,000 after purchasing an additional 250,441 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of CyberArk Software in the 4th quarter valued at approximately $72,842,000. Finally, BNP Paribas Financial Markets grew its position in shares of CyberArk Software by 545.1% in the 1st quarter. BNP Paribas Financial Markets now owns 230,362 shares of the technology company's stock valued at $77,862,000 after purchasing an additional 194,651 shares during the period. 91.84% of the stock is currently owned by institutional investors and hedge funds.

CyberArk Software Stock Performance

CYBR traded up $2.38 during trading hours on Wednesday, reaching $455.55. The company's stock had a trading volume of 625,141 shares, compared to its average volume of 936,281. CyberArk Software Ltd. has a 52 week low of $254.43 and a 52 week high of $457.07. The company's 50-day moving average is $408.55 and its 200-day moving average is $376.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.31 and a current ratio of 2.31. The firm has a market cap of $22.52 billion, a PE ratio of -135.18 and a beta of 1.03.

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

Analyst Ratings Changes

Several brokerages recently issued reports on CYBR. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $448.00 price objective (up from $420.00) on shares of CyberArk Software in a research report on Thursday, July 31st. Robert W. Baird reaffirmed a "neutral" rating and set a $460.00 price target on shares of CyberArk Software in a research report on Friday, August 1st. Scotiabank reaffirmed a "sector perform" rating and set a $448.00 price target (down previously from $460.00) on shares of CyberArk Software in a research report on Tuesday, August 5th. DA Davidson upped their price target on CyberArk Software from $465.00 to $518.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, KeyCorp downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $435.11.

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.