CyberArk Software Ltd. (NASDAQ: CYBR)
CyberArk Software Ltd. (CYBR), a security software company yesterday gapped up 9% on speculation of a buyout bid coming from Check Point Software (CHKP). The speculation comes from a report in Israel’s financial newspaper The Marker. Officials from both companies declined to comment on the possible buyout bid, according to Reuters. Check Point Software stock yesterday opened up 1%.
CYBR Technical Analysis
CYBR gapped up in price yesterday to $45.24, up from the prior day’s close of $37.84, which is a 9% increase in price. Taking a look at the daily chart, we can see the last time CYBR traded above this price level was on December 30th when it traded at $45.66. Taking a closer look at the daily chart we can see that CYBR has been on an overall decline dating back to June 22nd when it traded at $73.40. Over the past couple of months CYBR has been in trading range in between $37.50 and $50. CYBR has gone from the bottom of that range to close to the top with the gap up in price. CYBR has a float of 21.79 million shares and is trading 1.5 times the normal daily trading volume. CYBR hit pre market highs of $46.19, but gave back $0.95 at the open, or equivalent to 2%. For trading purposes, my entry point would have been $45.40 looking for a run to $48. My stop loss would have been $45, fearing anything below that and the stock would start to fill in the gap up.
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