<?xml version="1.0" encoding="UTF-8"?><ns2:edgarSubmission xmlns:com="http://www.sec.gov/edgar/common" xmlns:ns2="http://www.sec.gov/edgar/ownership">
    <ns2:headerData>
        <ns2:submissionType>144</ns2:submissionType>
        <ns2:filerInfo>
            <ns2:filer>
                <ns2:filerCredentials>
                    <ns2:cik>0001969276</ns2:cik>
                    <ns2:ccc>XXXXXXXX</ns2:ccc>
                </ns2:filerCredentials>
            </ns2:filer>
            <ns2:liveTestFlag>LIVE</ns2:liveTestFlag>



        </ns2:filerInfo>
    </ns2:headerData>
    <ns2:formData>
        <ns2:issuerInfo>
            <ns2:issuerCik>0001598110</ns2:issuerCik>
            <ns2:issuerName>CYBERARK SOFTWARE LTD.</ns2:issuerName>
            <ns2:secFileNumber>001-36625</ns2:secFileNumber>
            <ns2:issuerAddress>
                <com:street1>9 Hapsagot St., Park Ofer B</com:street1>
                <com:street2>P.O. BOX 3143</com:street2>
                <com:city>PETACH-TIKVA</com:city>
                <com:stateOrCountry>L3</com:stateOrCountry>
                <com:zipCode>4970602</com:zipCode>
            </ns2:issuerAddress>
            <ns2:issuerContactPhone>972-3-918-0000</ns2:issuerContactPhone>
            <ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Ehud Mokady</ns2:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <ns2:relationshipsToIssuer>
                <ns2:relationshipToIssuer>Director</ns2:relationshipToIssuer>
            </ns2:relationshipsToIssuer>
        </ns2:issuerInfo>
        <ns2:securitiesInformation>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:brokerOrMarketmakerDetails>
                <ns2:name>Goldman Sachs &amp; Co. LLC</ns2:name>
                <ns2:address>
                    <com:street1>200 West Street</com:street1>
                    <com:city>New York</com:city>
                    <com:stateOrCountry>NY</com:stateOrCountry>
                    <com:zipCode>10282</com:zipCode>
                </ns2:address>
            </ns2:brokerOrMarketmakerDetails>
            <ns2:noOfUnitsSold>52276</ns2:noOfUnitsSold>
            <ns2:aggregateMarketValue>7996136.96</ns2:aggregateMarketValue>
            <ns2:noOfUnitsOutstanding>40923682</ns2:noOfUnitsOutstanding>
            <ns2:approxSaleDate>05/19/2023</ns2:approxSaleDate>
            <ns2:securitiesExchangeName>NASD</ns2:securitiesExchangeName>
        </ns2:securitiesInformation>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:acquiredDate>11/15/2022</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired as compensation -- Restricted Stock Award</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>6530</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>11/15/2022</ns2:paymentDate>
            <ns2:natureOfPayment>Compensation</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:acquiredDate>02/15/2022</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired as compensation -- Restricted Stock Award</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>9439</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>02/15/2022</ns2:paymentDate>
            <ns2:natureOfPayment>Compensation</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:acquiredDate>02/15/2023</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired as compensation -- Restricted Stock Award</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>17004</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>02/15/2022</ns2:paymentDate>
            <ns2:natureOfPayment>Compensation</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:acquiredDate>08/15/2022</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired as compensation -- Restricted Stock Award</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>6433</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>08/15/2022</ns2:paymentDate>
            <ns2:natureOfPayment>Compensation</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:acquiredDate>12/15/2022</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired as compensation -- Restricted Stock Award</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>813</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>12/15/2022</ns2:paymentDate>
            <ns2:natureOfPayment>Compensation</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:acquiredDate>05/15/2022</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired as compensation -- Restricted Stock Award</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>6326</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>05/15/2022</ns2:paymentDate>
            <ns2:natureOfPayment>Compensation</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:acquiredDate>06/15/2022</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired as compensation -- Restricted Stock Award</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>881</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>06/15/2022</ns2:paymentDate>
            <ns2:natureOfPayment>Compensation</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:securitiesToBeSold>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:acquiredDate>06/27/2017</ns2:acquiredDate>
            <ns2:natureOfAcquisitionTransaction>Acquired as compensation -- Stock Options</ns2:natureOfAcquisitionTransaction>
            <ns2:nameOfPersonfromWhomAcquired>Issuer</ns2:nameOfPersonfromWhomAcquired>
            <ns2:isGiftTransaction>N</ns2:isGiftTransaction>
            <ns2:amountOfSecuritiesAcquired>4850</ns2:amountOfSecuritiesAcquired>
            <ns2:paymentDate>06/27/2017</ns2:paymentDate>
            <ns2:natureOfPayment>Compensation -- Cashless exercise / same-day sale</ns2:natureOfPayment>
        </ns2:securitiesToBeSold>
        <ns2:nothingToReportFlagOnSecuritiesSoldInPast3Months>N</ns2:nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <ns2:securitiesSoldInPast3Months>
            <ns2:sellerDetails>
                <ns2:name>Ehud Mokady</ns2:name>
                <ns2:address>
                    <com:street1>9 Hapsagot St., Park Ofer B</com:street1>
                    <com:street2>P.O. BOX 3143</com:street2>
                    <com:city>PETACH-TIKVA</com:city>
                    <com:stateOrCountry>L3</com:stateOrCountry>
                    <com:zipCode>4970602</com:zipCode>
                </ns2:address>
            </ns2:sellerDetails>
            <ns2:securitiesClassTitle>Common</ns2:securitiesClassTitle>
            <ns2:saleDate>05/15/2023</ns2:saleDate>
            <ns2:amountOfSecuritiesSold>2207</ns2:amountOfSecuritiesSold>
            <ns2:grossProceeds>318960.94</ns2:grossProceeds>
        </ns2:securitiesSoldInPast3Months>
        <ns2:remarks>The sales of shares set forth herein are made in connection with a selling plan dated 2/23/2023, that is intended to comply with Rule 10b5-1(c).</ns2:remarks>
        <ns2:noticeSignature>
            <ns2:noticeDate>05/19/2023</ns2:noticeDate>
            <ns2:planAdoptionDates>
                <ns2:planAdoptionDate>02/23/2023</ns2:planAdoptionDate>
            </ns2:planAdoptionDates>
            <ns2:signature>Goldman Sachs &amp; Co. LLC on behalf of Ehud Mokady</ns2:signature>
        </ns2:noticeSignature>
    </ns2:formData>
</ns2:edgarSubmission>
[{"type": "144", "sequence": "1", "filename": "primary_doc.xml", "secsgml_size_bytes": 9587}]
144
0001969276
XXXXXXXX
LIVE
0001598110
CYBERARK SOFTWARE LTD.
001-36625
9 Hapsagot St., Park Ofer B
P.O. BOX 3143
PETACH-TIKVA
L3
4970602
972-3-918-0000
Ehud Mokady
Director
Common
Goldman Sachs & Co. LLC
200 West Street
New York
NY
10282
52276
7996136.96
40923682
05/19/2023
NASD
Common
11/15/2022
Acquired as compensation -- Restricted Stock Award
Issuer
N
6530
11/15/2022
Compensation
Common
02/15/2022
Acquired as compensation -- Restricted Stock Award
Issuer
N
9439
02/15/2022
Compensation
Common
02/15/2023
Acquired as compensation -- Restricted Stock Award
Issuer
N
17004
02/15/2022
Compensation
Common
08/15/2022
Acquired as compensation -- Restricted Stock Award
Issuer
N
6433
08/15/2022
Compensation
Common
12/15/2022
Acquired as compensation -- Restricted Stock Award
Issuer
N
813
12/15/2022
Compensation
Common
05/15/2022
Acquired as compensation -- Restricted Stock Award
Issuer
N
6326
05/15/2022
Compensation
Common
06/15/2022
Acquired as compensation -- Restricted Stock Award
Issuer
N
881
06/15/2022
Compensation
Common
06/27/2017
Acquired as compensation -- Stock Options
Issuer
N
4850
06/27/2017
Compensation -- Cashless exercise / same-day sale
N
Ehud Mokady
9 Hapsagot St., Park Ofer B
P.O. BOX 3143
PETACH-TIKVA
L3
4970602
Common
05/15/2023
2207
318960.94
The sales of shares set forth herein are made in connection with a selling plan dated 2/23/2023, that is intended to comply with Rule 10b5-1(c).
05/19/2023
02/23/2023
Goldman Sachs & Co. LLC on behalf of Ehud Mokady