Pictet Asset Management SA recently announced the acquisition of new stake in CyberArk Software Ltd (NASDAQ:CYBR). This fresh investment now brings its stake to 3.37% valued currently at $303.0 million. In addition, BlackRock Fund Advisors raised its holdings by 47663.0 to 1.34 million shares. And Wellington Management Co. LLP has lifted its position by 23.89% or 0.18 million shares – to 0.96 million shares.
With over 0.44 million CyberArk Software Ltd (CYBR) shares trading Friday and a closing price of $224.09 on the day, the dollar volume was approximately $98.86 million. The shares have shown a positive half year performance of 38.00% and its price on 01/12/24 gained nearly 1.07%. Currently, there are 41.03M common shares owned by the public and among those 40.93M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 31 analysts who have offered their price forecasts for CYBR have a consensus price objective of $238.32. The analysts have set the share’s price value over the next 12 months at a high of $285.00 and a low of $195.00. The average price target is 5.97% above its recent price level and a downside to the estimated low will see the stock lose -14.92% over that period. But an upside of 21.37% will see the stock hit the forecast high price target while median target price for the stock is $246.50.
The top 3 mutual fund holders in CyberArk Software Ltd are Pictet – Security, First Trust NASDAQ Cybersecurity, and Legal & General UCITS ETF PLC – C. Pictet – Security owns 0.9 million shares of the company’s stock, all valued at over $197.58 million. The company bought an additional 30000.0 shares recently to bring their total holdings to about 2.20% of the shares outstanding. First Trust NASDAQ Cybersecurity sold 746.0 shares to see its total holdings shrink to 0.82 million shares valued at over $179.85 million and representing 2.00% of the shares outstanding. Legal & General UCITS ETF PLC – C sold 1880.0 shares to bring its total holdings to over 0.65 million shares at a value of $143.25 million. Legal & General UCITS ETF PLC – C now owns shares totaling to 1.59% of the shares outstanding.
Shares of CyberArk Software Ltd (NASDAQ: CYBR) opened at $223.99, up $2.27 from a prior closing price of $221.72. However, the script later moved the day high at 225.92, up 1.07%. The company’s stock has a 5-day price change of 5.84% and 35.88% over the past three months. CYBR shares are trading 2.30% year to date (YTD), with the 12-month market performance up to 85.40% higher. It has a 12-month low price of $117.82 and touched a high of $223.00 over the same period. CYBR has an average intraday trading volume of 512.13K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.39%, 12.20%, and 35.88% respectively.
Institutional ownership of CyberArk Software Ltd (NASDAQ: CYBR) shares accounts for 95.18% of the company’s 41.03M shares outstanding. Mutual fund holders own 48.31%, while other institutional holders and individual stakeholders account for 48.39% and — respectively.
It has a market capitalization of $9.19B and a beta (3y monthly) value of 1.06. The earnings-per-share (ttm) stands at -$2.36. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.78% over the week and 2.72% over the month.
Analysts forecast that CyberArk Software Ltd (CYBR) will achieve an EPS of $0.47 for the current quarter, $0.24 for the next quarter and $1.72 for 2024. The lowest estimate earnings-per-share for the quarter is $0.41 while analysts give the company a high EPS estimate of $0.58. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 277.01%, and 120.76% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 31 brokerage firm advisors rate CyberArk Software Ltd (CYBR) as a “Strong Buy” at a consensus score of 1.16. Specifically, 27 Wall Street analysts polled rate the stock as a buy, while 1 of the 31 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CYBR, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on January 09, 2024, with the firm’s price target at $195-$240.
