CyberArk Software (NASDAQ:CYBR) Hits New 52-Week High at $190.94

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price reached a new 52-week high on Monday . The stock traded as high as $190.94 and last traded at $190.53, with a volume of 13631 shares trading hands. The stock had previously closed at $189.27.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CYBR shares. Wells Fargo & Company lifted their price target on shares of CyberArk Software from $140.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. Wedbush upped their price target on CyberArk Software from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Stephens increased their price target on CyberArk Software from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. JMP Securities restated a “market outperform” rating and issued a $195.00 price objective on shares of CyberArk Software in a report on Tuesday, October 24th. Finally, Truist Financial increased their target price on shares of CyberArk Software from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.41.

CyberArk Software Stock Performance

The stock has a 50-day moving average price of $169.07 and a 200 day moving average price of $159.60. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of -80.20 and a beta of 0.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CYBR. Raymond James & Associates grew its stake in shares of CyberArk Software by 15.6% during the first quarter. Raymond James & Associates now owns 12,520 shares of the technology company’s stock worth $2,113,000 after purchasing an additional 1,691 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of CyberArk Software by 86.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 7,837 shares of the technology company’s stock worth $1,322,000 after acquiring an additional 3,634 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of CyberArk Software by 29.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,956 shares of the technology company’s stock valued at $498,000 after acquiring an additional 678 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in shares of CyberArk Software during the 1st quarter worth about $293,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of CyberArk Software by 16.8% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,390 shares of the technology company’s stock worth $235,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 92.14% of the company’s stock.

About CyberArk Software

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Israel, Europe, the Middle East, Africa, the United Kingdom, and internationally. Its solutions include Privileged Access Manager that offers risk-based credential security and session management to protect against attacks involving privileged access; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide fast, easy, and secure privileged access to third-party vendors; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Cloud Entitlements Manager, a SaaS solution, which reduces risk that arises from excessive privileges by implementing least privilege across cloud environments.