FY2024 EPS Estimate for CyberArk Software Lifted by Analyst

CyberArk Software Ltd. (NASDAQ:CYBR) – Investment analysts at DA Davidson lifted their FY2024 earnings estimates for CyberArk Software in a report released on Thursday, November 14th. DA Davidson analyst R. Kessinger now expects that the technology company will post earnings per share of ($0.39) for the year, up from their previous forecast of ($1.02). DA Davidson currently has a “Buy” rating and a $315.00 price objective on the stock. The consensus estimate for CyberArk Software’s current full-year earnings is ($0.99) per share. DA Davidson also issued estimates for CyberArk Software’s Q4 2024 earnings at ($0.13) EPS.

Other analysts have also issued reports about the stock. Jefferies Financial Group increased their price target on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Wells Fargo & Company lifted their target price on shares of CyberArk Software from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $335.00 price objective on shares of CyberArk Software in a report on Thursday, November 14th. Robert W. Baird lifted their price objective on CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, BTIG Research upped their target price on CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Trading Up 0.2 %

Shares of CyberArk Software stock opened at $305.74 on Monday. CyberArk Software has a 1 year low of $186.96 and a 1 year high of $318.16. The stock has a 50-day moving average price of $285.06 and a 200 day moving average price of $267.50. The company has a market cap of $13.32 billion, a P/E ratio of 1,148.19 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last announced its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The company’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.31) EPS.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CYBR. Jennison Associates LLC increased its position in CyberArk Software by 0.8% during the third quarter. Jennison Associates LLC now owns 1,211,844 shares of the technology company’s stock worth $353,386,000 after acquiring an additional 9,570 shares during the period. Groupama Asset Managment increased its holdings in shares of CyberArk Software by 0.5% during the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the period. RGM Capital LLC raised its position in shares of CyberArk Software by 2.1% during the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after buying an additional 16,530 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in shares of CyberArk Software by 3.3% in the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock valued at $134,422,000 after buying an additional 14,927 shares during the period. Finally, Swedbank AB grew its position in CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after buying an additional 45,799 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

CyberArk Software Company Profile

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.