The stock opened at $25, well above its initial public offering price of $16, and added to those gains in afternoon trading. It closed 87 percent higher by gaining $13.93 to end at $29.93, making the Israel-based cybersecurity software company one of the Nasdaq's most active names.

Cyber-Ark's strong debut follows Alibaba Group Holding Ltd.'s from last week. That IPO ranks as the world's biggest, and shares rose 38 percent in their trading debut on Friday.