DA Davidson Lifts Earnings Estimates for CyberArk Software

CyberArk Software Ltd. (NASDAQ:CYBR) – Investment analysts at DA Davidson upped their FY2024 earnings estimates for CyberArk Software in a research report issued 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 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) last issued its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.48. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The firm had revenue of $240.10 million for the quarter, compared to analyst estimates of $234.10 million. During the same period in the previous year, the company posted ($0.31) earnings per share. The business’s revenue was up 25.6% on a year-over-year basis.

A number of other research firms have also weighed in on CYBR. Piper Sandler boosted their price target on shares of CyberArk Software from $300.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Jefferies Financial Group upped their price target on CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Citigroup boosted their price objective on CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company upped their target price on CyberArk Software from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Mizuho lifted their price target on CyberArk Software from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. 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 data from MarketBeat.com, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Stock Up 3.0 %

Shares of CYBR opened at $315.00 on Monday. CyberArk Software has a 52-week low of $186.96 and a 52-week high of $318.16. The stock has a market cap of $13.72 billion, a PE ratio of 1,128.15 and a beta of 1.13. The firm’s fifty day moving average is $285.98 and its two-hundred day moving average is $268.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC raised its position in CyberArk Software by 0.8% in the 3rd 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 in the last quarter. Groupama Asset Managment raised its holdings in CyberArk Software by 0.5% in the third 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 in the last quarter. RGM Capital LLC lifted its stake in CyberArk Software by 2.1% in the second 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 during the last quarter. Whale Rock Capital Management LLC lifted its stake in 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 worth $134,422,000 after acquiring an additional 14,927 shares during the last quarter. Finally, Swedbank AB grew its holdings in CyberArk Software by 11.1% during the 3rd quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after acquiring an additional 45,799 shares in the last quarter. 91.84% of the stock is currently owned by hedge funds and other 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.