FY2024 EPS Estimate for CyberArk Software Raised by Analyst

CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) - Research analysts at DA Davidson lifted their FY2024 earnings estimates for shares of CyberArk Software in a research report issued on Thursday, November 14th. DA Davidson analyst R. Kessinger now anticipates that the technology company will post earnings of ($0.39) per share for the year, up from their previous estimate of ($1.02). DA Davidson currently has a "Buy" rating and a $315.00 target price 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.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $240.10 million for the quarter, compared to analysts' expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. CyberArk Software's revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.31) earnings per share.

Other analysts have also recently issued reports about the stock. Oppenheimer increased their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Truist Financial reiterated a "buy" rating and set a $350.00 price objective (up previously from $300.00) on shares of CyberArk Software in a research note on Thursday. JMP Securities lifted their target price on CyberArk Software from $310.00 to $360.00 and gave the company a "market outperform" rating in a research note on Thursday. Barclays increased their price target on CyberArk Software from $330.00 to $335.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Scotiabank assumed coverage on CyberArk Software in a research note on Monday, October 21st. They set a "sector outperform" rating and a $340.00 price objective for the company. One analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $328.37.

CyberArk Software Trading Up 1.3 %

CYBR stock opened at $305.27 on Monday. The firm has a market cap of $13.30 billion, a P/E ratio of 1,130.63 and a beta of 1.13. The stock's 50 day simple moving average is $285.06 and its 200 day simple moving average is $267.28. CyberArk Software has a 12-month low of $183.28 and a 12-month high of $318.16.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. boosted its stake in shares of CyberArk Software by 58.3% during the 1st quarter. Russell Investments Group Ltd. now owns 33,255 shares of the technology company's stock worth $8,830,000 after acquiring an additional 12,242 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of CyberArk Software during the first quarter valued at $2,741,000. Price T Rowe Associates Inc. MD boosted its position in shares of CyberArk Software by 715.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,262 shares of the technology company's stock valued at $14,946,000 after purchasing an additional 49,360 shares during the period. Ensign Peak Advisors Inc purchased a new position in CyberArk Software in the 2nd quarter worth about $711,000. Finally, 1832 Asset Management L.P. raised its holdings in CyberArk Software by 1,291.7% during the 1st quarter. 1832 Asset Management L.P. now owns 386,365 shares of the technology company's stock worth $102,630,000 after buying an additional 358,602 shares during the period. Institutional investors and hedge funds own 91.84% of the company's stock.

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.