CyberArk Software (NASDAQ:CYBR) Hits New 52-Week High – Still a Buy?

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $332.69 and last traded at $332.68, with a volume of 64435 shares. The stock had previously closed at $329.71.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Scotiabank assumed coverage on shares of CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price target for the company. Susquehanna raised their price objective on CyberArk Software from $320.00 to $345.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. DA Davidson increased their price target on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Stifel Nicolaus lifted their price objective on shares of CyberArk Software from $306.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Jefferies Financial Group raised their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Trading Down 0.0 %

The firm’s fifty day moving average is $297.51 and its 200 day moving average is $274.92. The company has a market cap of $14.36 billion, a PE ratio of 1,221.19 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last released its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The business had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same quarter in the previous year, the company earned ($0.31) earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. As a group, sell-side analysts anticipate that CyberArk Software Ltd. will post -0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CYBR. Jennison Associates LLC lifted its position in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after buying an additional 9,570 shares in the last quarter. Groupama Asset Managment raised its holdings in shares of CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after acquiring an additional 5,402 shares during the period. RGM Capital LLC grew its holdings in shares of CyberArk Software by 2.1% in the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after purchasing an additional 16,530 shares during the period. Whale Rock Capital Management LLC increased its position in CyberArk Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after purchasing an additional 14,927 shares during the last quarter. Finally, Swedbank AB increased its position in CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after purchasing an additional 45,799 shares during the last quarter. 91.84% of the stock is owned by institutional investors and hedge funds.

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.