FY2024 EPS Estimates for CYBR Lifted by Cantor Fitzgerald

CyberArk Software Ltd. (NASDAQ:CYBR) – Equities research analysts at Cantor Fitzgerald lifted their FY2024 earnings per share estimates for CyberArk Software in a research note issued to investors 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 estimate of ($0.56). Cantor Fitzgerald currently has a “Overweight” rating and a $415.00 target price 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.

Several other research firms have also weighed in on CYBR. StockNews.com upgraded CyberArk Software from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company upped their target price on shares of CyberArk Software from $410.00 to $425.00 and gave the stock an “overweight” rating in a research report on Monday. Truist Financial upped their price objective on shares of CyberArk Software from $350.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC lifted their target price on shares of CyberArk Software from $360.00 to $410.00 and gave the company a “buy” rating in a report on Thursday, January 9th. Finally, Susquehanna upped their price target on CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research note 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $363.56.

CyberArk Software Stock Performance

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

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 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 firm had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same period last year, the company posted ($0.31) EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year.

Institutional Trading of CyberArk Software

Several hedge funds have recently bought and sold shares of CYBR. Jennison Associates LLC lifted its position in shares of CyberArk Software by 32.3% during the 4th quarter. Jennison Associates LLC now owns 1,603,744 shares of the technology company’s stock valued at $534,287,000 after buying an additional 391,900 shares in the last quarter. Groupama Asset Managment boosted its position in shares of CyberArk Software by 0.5% in the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after purchasing an additional 5,402 shares during the period. Nepsis Inc. boosted its position in shares of CyberArk Software by 882.4% in the fourth quarter. Nepsis Inc. now owns 562,327 shares of the technology company’s stock worth $187,339,000 after purchasing an additional 505,088 shares during the period. Swedbank AB increased its stake in shares of CyberArk Software by 19.0% in the fourth quarter. Swedbank AB now owns 545,100 shares of the technology company’s stock worth $181,600,000 after purchasing an additional 87,201 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of CyberArk Software by 195.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 508,355 shares of the technology company’s stock valued at $170,614,000 after purchasing an additional 336,462 shares during the period. Institutional investors 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.