DA Davidson Lifts Earnings Estimates for CyberArk Software

CyberArk Software Ltd. (NASDAQ:CYBR) – Investment analysts at DA Davidson boosted their FY2024 earnings per share (EPS) estimates for CyberArk Software in a report released on Thursday, November 14th. DA Davidson analyst R. Kessinger now anticipates that the technology company will post earnings per share of ($0.39) for the year, up from their prior 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.

Several other analysts have also recently weighed in on the company. Robert W. Baird raised their price target on CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Oppenheimer lifted their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on shares of CyberArk Software from $328.00 to $358.00 and gave the stock an “outperform” rating in a research note on Thursday. Rosenblatt Securities restated a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Tuesday, August 6th. Finally, UBS Group upped their target price on shares of CyberArk Software from $340.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Stock Performance

CyberArk Software stock opened at $305.27 on Monday. CyberArk Software has a fifty-two week low of $183.28 and a fifty-two week high of $318.16. The stock has a market cap of $13.30 billion, a P/E ratio of 1,130.63 and a beta of 1.13. The firm’s fifty day moving average price is $285.06 and its 200-day moving average price is $267.28.

CyberArk Software (NASDAQ:CYBR) last posted its earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share for the quarter, beating 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 business had revenue of $240.10 million during the quarter, compared to analyst estimates of $234.10 million. During the same quarter in the previous year, the firm earned ($0.31) EPS. The company’s quarterly revenue was up 25.6% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mather Group LLC. purchased a new position in shares of CyberArk Software during the second quarter valued at approximately $27,000. ORG Partners LLC purchased a new position in CyberArk Software during the 2nd quarter valued at $33,000. Assetmark Inc. raised its holdings in CyberArk Software by 1,025.0% in the 3rd quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock worth $39,000 after purchasing an additional 123 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of CyberArk Software in the 2nd quarter worth about $39,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of CyberArk Software during the 3rd quarter valued at about $51,000. 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.