Research Analysts Issue Forecasts for CYBR FY2024 Earnings

CyberArk Software Ltd. (NASDAQ:CYBR - Free Report) - Scotiabank issued their FY2024 earnings per share estimates for shares of CyberArk Software in a report released on Wednesday, January 8th. Scotiabank analyst P. Colville forecasts that the technology company will earn ($0.55) per share for the year. Scotiabank currently has a "Sector Outperform" rating and a $340.00 target price on the stock. The consensus estimate for CyberArk Software's current full-year earnings is ($0.58) per share. Scotiabank also issued estimates for CyberArk Software's FY2025 earnings at ($0.20) EPS.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $240.10 million during 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%. CyberArk Software's quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.31) EPS.

Other research analysts have also issued reports about the company. Oppenheimer upped their price target on CyberArk Software from $310.00 to $360.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. KeyCorp increased their price target on shares of CyberArk Software from $340.00 to $355.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Canaccord Genuity Group raised their price target on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Piper Sandler upped their price objective on shares of CyberArk Software from $345.00 to $380.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Finally, Truist Financial reissued a "buy" rating and set a $350.00 target price (up from $300.00) on shares of CyberArk Software in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat, CyberArk Software currently has an average rating of "Moderate Buy" and a consensus price target of $350.22.

CyberArk Software Stock Performance

NASDAQ CYBR opened at $343.79 on Monday. The stock has a 50-day simple moving average of $318.20 and a 200 day simple moving average of $290.39. CyberArk Software has a twelve month low of $213.37 and a twelve month high of $348.29. The stock has a market capitalization of $14.98 billion, a PE ratio of 1,273.34 and a beta of 1.13.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Assetmark Inc. increased its position in CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company's stock valued at $39,000 after acquiring an additional 123 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of CyberArk Software in the third quarter valued at approximately $51,000. Future Financial Wealth Managment LLC bought a new position in CyberArk Software in the 3rd quarter worth approximately $87,000. Centaurus Financial Inc. acquired a new position in CyberArk Software during the 2nd quarter worth $109,000. Finally, Wilmington Savings Fund Society FSB bought a new position in CyberArk Software in the 3rd quarter valued at $144,000. 91.84% of the stock is owned by institutional investors.

About CyberArk Software

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.