CyberArk Software Ltd. (NASDAQ: CYBR) experienced a surge in stock price accompanied by high trading volume on Friday. The trading volume reached 264,623 shares, a significant decrease from the previous session’s volume of 569,601 shares. The stock was last traded at $253.95, slightly up from the previous closing price of $251.79.
Analysts on Wall Street have been closely monitoring CYBR’s performance. Several recent research reports have provided insights into the stock. JMP Securities raised their price target on CyberArk Software from $280.00 to $310.00, giving the stock a “market outperform” rating. Bank of America reiterated a “buy” rating with a price target of $315.00. Canaccord Genuity Group lowered their price target from $300.00 to $280.00 but maintained a “buy” rating. Wedbush also reaffirmed an “outperform” rating with a price target of $285.00. DA Davidson raised their price target from $275.00 to $285.00, also giving the stock a “buy” rating. Overall, the stock has received a consensus rating of “Moderate Buy” with an average target price of $270.83.
In terms of performance, CyberArk Software has a 50-day simple moving average of $240.98 and a 200-day simple moving average of $239.34. The company has a market capitalization of $10.66 billion, a PE ratio of -394.27, and a beta of 1.08. In the latest quarterly earnings report released on May 2nd, CyberArk Software surpassed analysts’ expectations with earnings per share of $0.16 for the quarter, compared to the consensus estimate of ($0.51). The company reported revenue of $221.55 million, exceeding analyst estimates.
Institutional investors and hedge funds have shown interest in CyberArk Software, with several making new positions in the stock. Montag A & Associates Inc., Blue Bell Private Wealth Management LLC, Arcadia Investment Management Corp MI, FinTrust Capital Advisors LLC, and Central Bank & Trust Co. are among the institutional investors that have acquired positions in the company.
CyberArk Software Ltd. specializes in software-based identity security solutions and services globally. Their solutions include Privileged Access Manager, Vendor Privileged Access Manager, Dynamic Privileged Access, Endpoint Privilege Manager, and Secure Desktop, all aimed at providing secure access and protection for endpoints.
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