FY2024 EPS Forecast for CyberArk Software Boosted by Analyst

CyberArk Software Ltd. (NASDAQ:CYBR) – Analysts at Cantor Fitzgerald upped their FY2024 earnings estimates for shares of CyberArk Software in a research note issued on Monday, January 27th. Cantor Fitzgerald analyst J. Ruykhaver now forecasts that the technology company will post earnings of ($0.55) per share for the year, up from their previous forecast of ($0.56). Cantor Fitzgerald currently has a “Overweight” rating and a $415.00 price target on the stock. The consensus estimate for CyberArk Software’s current full-year earnings is ($0.58) per share. Cantor Fitzgerald also issued estimates for CyberArk Software’s FY2025 earnings at ($0.28) EPS.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 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 the consensus estimate of $234.10 million. During the same quarter in the prior year, the business earned ($0.31) earnings per share. The company’s revenue was up 25.6% compared to the same quarter last year.

A number of other equities analysts have also weighed in on the company. Canaccord Genuity Group boosted their price objective on CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Barclays increased their price objective on CyberArk Software from $330.00 to $335.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Scotiabank lifted their target price on CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Susquehanna increased their price target on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, JMP Securities restated a “market outperform” rating and set a $360.00 target price on shares of CyberArk Software in a research report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, CyberArk Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $363.56.

CyberArk Software Stock Down 1.9 %

Shares of NASDAQ CYBR opened at $368.52 on Wednesday. The firm has a market cap of $16.06 billion, a price-to-earnings ratio of 1,364.94 and a beta of 1.13. CyberArk Software has a 52-week low of $223.09 and a 52-week high of $376.61. The company’s 50-day simple moving average is $332.21 and its 200-day simple moving average is $297.43.

Institutional Trading of CyberArk Software

Several institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its stake in shares of CyberArk Software by 6.1% in the 4th quarter. Van ECK Associates Corp now owns 17,870 shares of the technology company’s stock valued at $5,953,000 after purchasing an additional 1,035 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of CyberArk Software by 195.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock valued at $170,614,000 after acquiring an additional 336,462 shares during the period. Sycomore Asset Management grew its position in CyberArk Software by 39.4% in the 4th quarter. Sycomore Asset Management now owns 44,312 shares of the technology company’s stock worth $14,763,000 after purchasing an additional 12,514 shares during the last quarter. Kestra Private Wealth Services LLC bought a new position in CyberArk Software during the fourth quarter valued at about $964,000. Finally, Stephens Inc. AR increased its holdings in CyberArk Software by 6.0% in the 4th quarter. Stephens Inc. AR now owns 2,545 shares of the technology company’s stock valued at $848,000 after buying an additional 145 shares during the period. 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.