FY2024 EPS Forecast for CyberArk Software Lifted by Analyst

CyberArk Software Ltd. (NASDAQ:CYBR) – Investment analysts at DA Davidson lifted their FY2024 earnings per share estimates for CyberArk Software in a research note issued on Thursday, November 14th. DA Davidson analyst R. Kessinger now expects that the technology company will earn ($0.39) per share for the year, up from their prior estimate of ($1.02). DA Davidson 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.

A number of other research firms have also weighed in on CYBR. JMP Securities raised their price objective on CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research report on Thursday. Piper Sandler raised their price target on CyberArk Software from $300.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday. Scotiabank initiated coverage on CyberArk Software in a research report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Friday, August 9th. Finally, Royal Bank of Canada lifted their target price on shares of CyberArk Software from $328.00 to $358.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $328.37.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR opened at $305.27 on Monday. The company has a 50 day simple moving average of $285.06 and a two-hundred day simple moving average of $267.28. CyberArk Software has a fifty-two week low of $183.28 and a fifty-two week high of $318.16. The company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 1,130.63 and a beta of 1.13.

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

Hedge Funds Weigh In On CyberArk Software

A number of institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC grew its holdings 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 valued at $353,386,000 after purchasing an additional 9,570 shares during the period. Groupama Asset Managment grew its stake 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 valued at $304,000 after acquiring an additional 5,402 shares during the period. RGM Capital LLC increased its holdings in CyberArk Software by 2.1% in the 2nd quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock worth $222,599,000 after acquiring an additional 16,530 shares in the last quarter. Whale Rock Capital Management LLC raised its stake in CyberArk Software by 3.3% during the 3rd quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock worth $134,422,000 after acquiring an additional 14,927 shares during the period. Finally, Swedbank AB lifted its holdings in CyberArk Software by 11.1% during the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock valued at $133,528,000 after purchasing an additional 45,799 shares in the last quarter. 91.84% of the stock is owned by institutional investors.

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.