CyberArk Software Ltd. (NASDAQ:CYBR) Sees Large Increase in Short Interest

CyberArk Software Ltd. (NASDAQ:CYBR) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,520,000 shares, an increase of 38.2% from the May 15th total of 1,100,000 shares. Based on an average trading volume of 702,500 shares, the days-to-cover ratio is presently 2.2 days. Currently, 3.1% of the company’s shares are sold short.

CyberArk Software Price Performance

Shares of NASDAQ CYBR opened at $389.34 on Tuesday. The company has a market capitalization of $19.24 billion, a price-to-earnings ratio of -199.66 and a beta of 0.99. The business has a 50-day moving average of $361.27 and a two-hundred day moving average of $352.41. CyberArk Software has a 1 year low of $230.00 and a 1 year high of $421.00.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Tuesday, May 13th. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.19. CyberArk Software had a positive return on equity of 0.45% and a negative net margin of 9.34%. The business had revenue of $317.60 million during the quarter, compared to the consensus estimate of $305.57 million. During the same period in the previous year, the business earned $0.75 EPS. The business’s quarterly revenue was up 43.3% on a year-over-year basis. As a group, equities research analysts expect that CyberArk Software will post -0.47 earnings per share for the current year.

Institutional Trading of CyberArk Software

Several institutional investors and hedge funds have recently made changes to their positions in CYBR. Thoma Bravo L.P. purchased a new stake in shares of CyberArk Software in the 4th quarter valued at about $380,637,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of CyberArk Software by 1,598.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 979,181 shares of the technology company’s stock valued at $330,964,000 after purchasing an additional 921,523 shares during the last quarter. Norges Bank purchased a new stake in shares of CyberArk Software in the 4th quarter valued at about $203,375,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of CyberArk Software by 82.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 740,504 shares of the technology company’s stock valued at $250,290,000 after purchasing an additional 335,634 shares during the last quarter. Finally, Amundi lifted its holdings in shares of CyberArk Software by 153.5% in the 1st quarter. Amundi now owns 547,466 shares of the technology company’s stock valued at $179,547,000 after purchasing an additional 331,498 shares during the last quarter. 91.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley reissued an “equal weight” rating on shares of CyberArk Software in a research note on Tuesday, May 13th. Truist Financial cut their target price on CyberArk Software from $450.00 to $425.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Barclays reissued an “overweight” rating on shares of CyberArk Software in a research note on Tuesday, May 13th. DA Davidson lifted their price objective on CyberArk Software from $435.00 to $465.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. Finally, KeyCorp dropped their price objective on CyberArk Software from $485.00 to $425.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and a consensus price target of $416.79.

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.