CyberArk Software Ltd. (NASDAQ: CYBR)
CyberArk Software Ltd. (CYBR), a software based security systems company was upgraded to Overweight from Underweight by JP Morgan analysts.
CYBR Technical Analysis
CYBR gapped up in price Thursday to $40.90, up from the prior day’s close of $38.91, which is a 5% increase on the favorable news. Taking a look at the daily chart, we can see the last time CYBR traded at this price level was on December 4th, when it traded at $41.00. Taking a further look back on the daily chart, we can see that CYBR has been on an overall decline dating back to June 18th when it was trading at its 52 week high price of $76.35. More recently, CYBR has been on a steep decline from November 4th when it traded at $51.60. The resistance level for this spike up in price would be $45.00, which was the high of the last move up. If CYBR can break that $45 price level it would reverse the current trend of putting in lower highs. CYBR does have a low float of 21.79 million shares and was trading almost 2 times the normal daily trading volume. CYBR did open at the pre market highs. For trading purposes my entry point would have been $41 looking for a run to $42. My stop loss would have been $40.80, fearing anything below that and the stock would start to fill in the gap up.
About CyberArk Software Ltd.
CyberArk Software Ltd. develops, markets, and sells software-based IT security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor privileged account access and activities. Its privileged account security solution consists of Enterprise Password Vault that provides a tool to manage and protect physical, virtual, or cloud-based assets; SSH Key Manager to store, rotate, and control access to SSH keys for preventing unauthorized access to privileged accounts; Privileged Session Manager that protects servers, applications, databases, and hypervisors from malware; and Privileged Threat Analytics that profiles and analyzes individual privileged user behavior and creates prioritized alerts when abnormal activity is detected. The company also provides Application Identity Manager, which addresses the challenges of hard-coded, embedded credentials, and cryptographic keys being hijacked and exploited by malicious insiders or external cyber attackers; and On-Demand Privileges Manager to limit the breadth of access of Unix/Linux administrative accounts and restrict them from performing commands and functions. In addition, it offers Shared Technology Platform that integrates operating systems, databases, network devices, security appliances, hypervisors, applications, industrial control systems, and application servers in the datacenter or the cloud; sensitive information management solutions to isolate, store, share, and track sensitive files and documents; and software maintenance and support, and consulting services. The company offers its products to energy and utilities, financial services, healthcare, manufacturing, retail, technology, and telecommunications industries, as well as government agencies through resellers and distributors. CyberArk Software Ltd. was founded in 1999 and is headquartered in Petach Tikva, Israel. Yahoo Finance