Cyberark Software (CYBR) Shares Gap Up After Strong Earnings

Shares of Cyberark Software Ltd (NASDAQ:CYBR) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $118.00, but opened at $123.00. Cyberark Software shares last traded at $125.00, with a volume of 980654 shares.

The technology company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.33. Cyberark Software had a return on equity of 12.24% and a net margin of 13.72%. The company had revenue of $95.94 million during the quarter, compared to the consensus estimate of $92.42 million. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year.

Several brokerages have issued reports on CYBR. Bank of America increased their price target on Cyberark Software from $116.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Morgan Stanley increased their price target on Cyberark Software from $133.00 to $146.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group downgraded Cyberark Software from a “buy” rating to a “neutral” rating and increased their price target for the stock from $119.00 to $132.00 in a report on Thursday, April 25th. Zacks Investment Research downgraded Cyberark Software from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, JMP Securities reiterated an “outperform” rating and set a $135.00 price objective (up from $130.00) on shares of Cyberark Software in a report on Tuesday. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $107.55.

Several large investors have recently bought and sold shares of CYBR. Cavalier Investments LLC acquired a new position in Cyberark Software during the fourth quarter valued at approximately $249,000. Davis R M Inc. boosted its position in Cyberark Software by 3.9% during the fourth quarter. Davis R M Inc. now owns 237,266 shares of the technology company’s stock valued at $17,591,000 after purchasing an additional 8,807 shares during the last quarter. Raymond James & Associates boosted its position in Cyberark Software by 50.8% during the fourth quarter. Raymond James & Associates now owns 21,266 shares of the technology company’s stock valued at $1,577,000 after purchasing an additional 7,164 shares during the last quarter. Meritage Portfolio Management boosted its position in Cyberark Software by 80.4% during the first quarter. Meritage Portfolio Management now owns 138,973 shares of the technology company’s stock valued at $16,545,000 after purchasing an additional 61,954 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in Cyberark Software during the fourth quarter valued at approximately $1,051,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

The stock has a market cap of $4.47 billion, a P/E ratio of 92.02, a P/E/G ratio of 5.33 and a beta of 1.87.

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About Cyberark Software (NASDAQ:CYBR)

CyberArk Software Ltd., together with its subsidiaries, provides software-based security solutions and services for organizations to safeguard and monitor their privileged accounts. The company's solutions include Core Privileged Access Security for risk-based credential security and session management with add-on options for least privilege server and domain controller protection; Application Access Manager for secrets management for applications, tools, containers, and DevOps; and Endpoint Privilege Manager for least privilege and credential theft protection for workstations.

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