CYBR FY2024 EPS Forecast Increased by Cantor Fitzgerald

CyberArk Software Ltd. (NASDAQ:CYBR) – Research analysts at Cantor Fitzgerald boosted their FY2024 earnings per share estimates for shares of CyberArk Software in a report released on Monday, January 27th. Cantor Fitzgerald analyst J. Ruykhaver now expects that the technology company will earn ($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.

A number of other research firms have also recently issued reports on CYBR. Wedbush increased their price objective on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Mizuho increased their price target on CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Truist Financial boosted their price objective on CyberArk Software from $350.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup increased their target price on CyberArk Software from $355.00 to $410.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Robert W. Baird boosted their price target on shares of CyberArk Software from $355.00 to $370.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. One research 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $363.56.

CyberArk Software Trading Up 4.5 %

NASDAQ:CYBR opened at $375.50 on Wednesday. CyberArk Software has a 12 month low of $223.09 and a 12 month high of $375.86. The stock has a market capitalization of $16.36 billion, a price-to-earnings ratio of 1,390.79 and a beta of 1.13. The firm has a fifty day simple moving average of $332.21 and a two-hundred day simple moving average of $297.43.

CyberArk Software (NASDAQ:CYBR) last posted 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. The firm had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $234.10 million. CyberArk Software had a return on equity of 2.29% and a net margin of 1.38%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.31) EPS.

Institutional Investors Weigh In On CyberArk Software

Several large investors have recently modified their holdings of CYBR. HighTower Advisors LLC grew its holdings in CyberArk Software by 16.6% during the third quarter. HighTower Advisors LLC now owns 14,478 shares of the technology company’s stock valued at $4,212,000 after purchasing an additional 2,062 shares during the period. Sycomore Asset Management grew its stake in shares of CyberArk Software by 36.6% during the 2nd quarter. Sycomore Asset Management now owns 60,781 shares of the technology company’s stock worth $15,973,000 after acquiring an additional 16,294 shares during the period. Groupama Asset Managment increased its holdings in CyberArk Software by 0.5% in the 3rd quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock worth $304,000 after acquiring an additional 5,402 shares during the last quarter. Jennison Associates LLC lifted its holdings in CyberArk Software by 0.8% during the third 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 during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of CyberArk Software in the third quarter valued at approximately $8,612,000. Hedge funds and other institutional investors own 91.84% of the company’s stock.

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.