In a welcome move, CyberArk Software stock saw its Relative Strength Rating rise from 64 to 77 on Wednesday.
When looking for the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary RS Rating measures market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the best stocks tend to have an 80 or higher RS Rating as they launch their biggest climbs. See if Cyberark Software can continue to show renewed price strength and hit that benchmark.
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Is CyberArk Software Stock A Buy?
CyberArk Software stock is trading within a buy range after clearing a 147.00 entry in a consolidation. The proper buying range extends to 5% above the initial entry. Once a stock hits that benchmark, it's best to hold off investing and wait for it to set up another buying opportunity..
The cybersecurity company reported -2,800% earnings growth in its most recent report, while sales growth came in at 0%.
CyberArk Software stock holds the No. 20 rank among its peers in the Computer Software-Security industry group. Qualys and Palo Alto Networks are also among the group's highest-rated stocks.
