CyberArk Software (NASDAQ:CYBR) Reaches New 12-Month High – Still a Buy?

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price hit a new 52-week high on Monday . The company traded as high as $391.62 and last traded at $389.81, with a volume of 225624 shares traded. The stock had previously closed at $384.29.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CYBR shares. Scotiabank raised their target price on CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Mizuho raised their price objective on CyberArk Software from $345.00 to $365.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Piper Sandler upped their target price on CyberArk Software from $380.00 to $440.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. UBS Group lifted their price target on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Oppenheimer boosted their price target on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, CyberArk Software presently has a consensus rating of “Moderate Buy” and an average price target of $373.96.

CyberArk Software Price Performance

The company has a market capitalization of $16.59 billion, a PE ratio of 1,410.64 and a beta of 1.15. The business’s 50 day simple moving average is $343.36 and its 200 day simple moving average is $305.45.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.46 by $0.48. The firm had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.31) EPS. As a group, analysts anticipate that CyberArk Software Ltd. will post -0.58 EPS for the current year.

Institutional Investors Weigh In On CyberArk Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of CyberArk Software during the 4th quarter worth $25,000. TD Private Client Wealth LLC lifted its position in CyberArk Software by 79.1% in the fourth quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock valued at $26,000 after buying an additional 34 shares during the last quarter. Plato Investment Management Ltd purchased a new position in CyberArk Software during the fourth quarter worth about $39,000. Graney & King LLC acquired a new stake in shares of CyberArk Software during the fourth quarter valued at about $43,000. Finally, Montag A & Associates Inc. raised its stake in shares of CyberArk Software by 47.2% in the 4th quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock valued at $44,000 after acquiring an additional 42 shares during the period. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.