CyberArk Software (NASDAQ:CYBR) Shares Gap Up – Here’s What Happened

CyberArk Software Ltd. (NASDAQ:CYBR)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $380.86, but opened at $408.89. CyberArk Software shares last traded at $402.50, with a volume of 274,785 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Scotiabank boosted their price target on CyberArk Software from $340.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $415.00 target price on shares of CyberArk Software in a report on Monday, January 27th. Truist Financial upped their price target on CyberArk Software from $350.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. JMP Securities reaffirmed a “market outperform” rating and set a $360.00 price objective on shares of CyberArk Software in a research report on Tuesday, January 14th. Finally, Oppenheimer upped their price target on shares of CyberArk Software from $360.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 5th. Two equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $373.96.

CyberArk Software Stock Performance

The company has a market capitalization of $17.84 billion, a PE ratio of 1,511.63 and a beta of 1.15. The firm has a fifty day simple moving average of $344.38 and a 200 day simple moving average of $305.97.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Thursday, February 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.85). CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. Research analysts expect that CyberArk Software Ltd. will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in CyberArk Software in the fourth quarter worth about $25,000. TD Private Client Wealth LLC grew its position in shares of CyberArk Software by 79.1% in the 4th quarter. TD Private Client Wealth LLC now owns 77 shares of the technology company’s stock worth $26,000 after buying an additional 34 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of CyberArk Software during the 4th quarter worth approximately $39,000. Graney & King LLC purchased a new stake in CyberArk Software during the fourth quarter valued at approximately $43,000. Finally, Montag A & Associates Inc. boosted its stake in CyberArk Software by 47.2% in the fourth 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 in the last quarter. 91.84% of the stock is owned by institutional investors.

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.