Viking Fund Management LLC Acquires 3,000 Shares of CyberArk Software Ltd. $CYBR

Key Points

• Viking Fund Management LLC has doubled its stake in CyberArk Software Ltd., increasing their holdings by 100% to 6,000 shares valued at approximately $2.44 million.
• The company's stock performance shows a significant 46% year-over-year revenue increase, with a recent earnings per share (EPS) of $0.88, exceeding estimates of $0.79.
• Analysts have given CyberArk Software a range of ratings, with fourteen rating it as a Buy and seventeen as a Hold, reflecting a consensus price target of $435.11.

Viking Fund Management LLC lifted its position in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) by 100.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,000 shares of the technology company's stock after buying an additional 3,000 shares during the quarter. Viking Fund Management LLC's holdings in CyberArk Software were worth $2,441,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings 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 worth $330,964,000 after purchasing an additional 921,523 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of CyberArk Software by 82.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 740,504 shares of the technology company's stock valued at $250,290,000 after buying an additional 335,634 shares in the last quarter. Amundi grew its stake in shares of CyberArk Software by 153.5% in the first quarter. Amundi now owns 547,466 shares of the technology company's stock valued at $179,547,000 after buying an additional 331,498 shares in the last quarter. Congress Asset Management Co. grew its stake in shares of CyberArk Software by 304.2% in the first quarter. Congress Asset Management Co. now owns 332,770 shares of the technology company's stock valued at $112,476,000 after buying an additional 250,441 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of CyberArk Software by 545.1% in the first quarter. BNP Paribas Financial Markets now owns 230,362 shares of the technology company's stock valued at $77,862,000 after buying an additional 194,651 shares in the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

CyberArk Software Trading Down 1.2%

CYBR stock traded down $5.94 during midday trading on Tuesday, reaching $485.16. The stock had a trading volume of 230,987 shares, compared to its average volume of 923,945. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.53. CyberArk Software Ltd. has a twelve month low of $269.00 and a twelve month high of $493.85. The firm has a market cap of $23.98 billion, a price-to-earnings ratio of -143.86 and a beta of 1.03. The business has a fifty day simple moving average of $430.67 and a two-hundred day simple moving average of $386.37.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its 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. The firm had revenue of $328.03 million for the quarter, compared to analysts' expectations of $315.43 million. CyberArk Software had a positive return on equity of 0.44% and a negative net margin of 13.78%.The company's revenue was up 46.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 earnings per share. As a group, research analysts expect that CyberArk Software Ltd. will post -0.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on CYBR. Rosenblatt Securities downgraded CyberArk Software from a "strong-buy" rating to a "hold" rating and set a $445.00 price target for the company. in a report on Friday, August 1st. JMP Securities restated a "market perform" rating on shares of CyberArk Software in a research note on Tuesday. Piper Sandler reaffirmed a "neutral" rating and set a $448.00 target price (up from $440.00) on shares of CyberArk Software in a report on Thursday, July 31st. William Blair lowered CyberArk Software from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $460.00 target price on shares of CyberArk Software in a report on Friday, August 1st. Thirteen investment analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the company's stock. According to data from MarketBeat, CyberArk Software presently has an average rating of "Hold" and a consensus target price 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.