CyberArk Software (NASDAQ:CYBR) Sets New 52-Week High – Here’s What Happened

CyberArk Software Ltd. (NASDAQ:CYBR) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $316.39 and last traded at $305.95, with a volume of 346382 shares. The stock had previously closed at $300.76.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Rosenblatt Securities restated a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a research note on Tuesday, August 6th. Barclays increased their price target on CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Jefferies Financial Group increased their price target on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Citigroup increased their price target on CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Wedbush increased their price target on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $311.44.

CyberArk Software Price Performance

The company has a 50-day moving average of $282.91 and a 200-day moving average of $265.83.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. boosted its stake in shares of CyberArk Software by 11.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,774 shares of the technology company’s stock worth $1,101,000 after acquiring an additional 389 shares in the last quarter. Centaurus Financial Inc. raised its holdings in CyberArk Software by 18.8% in the 3rd quarter. Centaurus Financial Inc. now owns 475 shares of the technology company’s stock valued at $139,000 after acquiring an additional 75 shares during the last quarter. Swedbank AB increased its holdings 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 buying an additional 45,799 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of CyberArk Software by 5.0% during the 3rd quarter. Cerity Partners LLC now owns 52,745 shares of the technology company’s stock worth $15,381,000 after buying an additional 2,507 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in CyberArk Software by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 29,600 shares of the technology company’s stock valued at $8,632,000 after purchasing an additional 1,557 shares in the last quarter. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.