CyberArk Software (NASDAQ:CYBR) Trading 3.9% Higher – What’s Next?

CyberArk Software Ltd. (NASDAQ:CYBR)’s stock price rose 3.9% during mid-day trading on Tuesday . The company traded as high as $332.02 and last traded at $331.91. Approximately 289,410 shares changed hands during trading, a decline of 43% from the average daily volume of 510,622 shares. The stock had previously closed at $319.60.

Analysts Set New Price Targets

Several brokerages recently commented on CYBR. Canaccord Genuity Group increased their target price on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Jefferies Financial Group lifted their target price on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. StockNews.com upgraded CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. BTIG Research increased their price target on CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Oppenheimer increased their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $339.22.

CyberArk Software Stock Up 4.5 %

The firm has a 50 day moving average price of $308.53 and a 200 day moving average price of $285.13. The stock has a market cap of $14.55 billion, a P/E ratio of 1,236.90 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $234.10 million. During the same quarter in the prior year, the firm earned ($0.31) EPS. The business’s revenue was up 25.6% on a year-over-year basis. Equities analysts predict that CyberArk Software Ltd. will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CYBR. Jennison Associates LLC grew its stake in CyberArk Software by 0.8% in the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock valued at $353,386,000 after purchasing an additional 9,570 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the last quarter. RGM Capital LLC raised its stake in shares of CyberArk Software by 2.1% during the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after buying an additional 16,530 shares during the last quarter. Whale Rock Capital Management LLC grew its holdings 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 acquiring an additional 14,927 shares during the period. Finally, Swedbank AB grew its stake in shares of CyberArk Software by 11.1% during the 3rd 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 period. 91.84% of the stock is currently owned by institutional investors.

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.