Wedbush Securities Inc. Makes New Investment in CyberArk Software Ltd. (NASDAQ:CYBR)

Key Points

• Wedbush Securities Inc. made a new investment in CyberArk Software Ltd., purchasing 1,067 shares valued at approximately $361,000 in the first quarter.
• CyberArk reported a 43.3% increase in revenue year-over-year, reaching $317.60 million, and surpassed earnings expectations with an EPS of $0.98.
• Numerous institutional investors, including Thoma Bravo and Norges Bank, have significantly increased their stakes in CyberArk, highlighting strong investor confidence in the company.

Wedbush Securities Inc. purchased a new position in shares of CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,067 shares of the technology company's stock, valued at approximately $361,000.

A number of other large investors have also recently bought and sold shares of CYBR. Thoma Bravo L.P. acquired a new stake in shares of CyberArk Software in the 4th quarter valued at approximately $380,637,000. Norges Bank acquired a new stake in shares of CyberArk Software in the 4th quarter valued at approximately $203,375,000. Congress Asset Management Co. boosted its holdings 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 buying an additional 250,441 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of CyberArk Software in the 4th quarter valued at approximately $72,842,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of CyberArk Software by 7,524.4% in the 4th quarter. Janus Henderson Group PLC now owns 170,710 shares of the technology company's stock valued at $56,914,000 after buying an additional 168,471 shares during the last quarter. Institutional investors and hedge funds own 91.84% of the company's stock.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $378.72 on Friday. CyberArk Software Ltd. has a 52 week low of $230.00 and a 52 week high of $421.00. The stock has a market capitalization of $18.72 billion, a P/E ratio of -203.61 and a beta of 1.00. The stock's fifty day moving average is $386.70 and its 200 day moving average is $365.63.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The technology company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.19. CyberArk Software had a positive return on equity of 0.71% and a negative net margin of 7.97%. The company had revenue of $317.60 million for the quarter, compared to analysts' expectations of $305.57 million. During the same quarter last year, the business earned $0.75 earnings per share. CyberArk Software's revenue was up 43.3% on a year-over-year basis. Equities research analysts forecast that CyberArk Software Ltd. will post -0.47 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CYBR shares. Stephens started coverage on CyberArk Software in a report on Tuesday, April 1st. They issued an "overweight" rating and a $440.00 price objective for the company. Truist Financial cut their price objective on CyberArk Software from $450.00 to $425.00 and set a "buy" rating for the company in a report on Monday, March 31st. Robert W. Baird raised their price target on CyberArk Software from $450.00 to $460.00 and gave the company an "outperform" rating in a report on Wednesday, May 14th. DA Davidson raised their price target on CyberArk Software from $435.00 to $465.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, KeyCorp cut their price target on CyberArk Software from $485.00 to $425.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $418.75.

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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