DA Davidson Boosts Earnings Estimates for CyberArk Software

CyberArk Software Ltd. (NASDAQ:CYBR) – DA Davidson upped their FY2024 earnings estimates for shares of CyberArk Software in a research report issued to clients and investors on Thursday, November 14th. DA Davidson analyst R. Kessinger now expects that the technology company will earn ($0.39) per share for the year, up from their prior forecast of ($1.02). DA Davidson has a “Buy” rating and a $315.00 price objective 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.

A number of other equities analysts also recently commented on CYBR. Oppenheimer lifted their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their price target on shares of CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Citigroup raised their target price on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Mizuho upped their target price on CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $328.37.

CyberArk Software Trading Up 0.2 %

Shares of CYBR opened at $305.74 on Monday. The firm has a market cap of $13.32 billion, a price-to-earnings ratio of 1,148.19 and a beta of 1.13. CyberArk Software has a 52 week low of $186.96 and a 52 week high of $318.16. The stock has a 50 day moving average of $285.06 and a 200-day moving average of $267.50.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly 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 business had revenue of $240.10 million during the quarter, compared to the consensus estimate of $234.10 million. During the same period last year, the firm earned ($0.31) earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year.

Institutional Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently modified their holdings of the company. TT International Asset Management LTD acquired a new position in CyberArk Software during the third quarter worth about $3,224,000. Coldstream Capital Management Inc. raised its holdings in shares of CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock worth $359,000 after purchasing an additional 42 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of CyberArk Software by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 372,231 shares of the technology company’s stock worth $108,020,000 after purchasing an additional 14,724 shares in the last quarter. Continuum Advisory LLC lifted its stake in CyberArk Software by 33.2% during the third quarter. Continuum Advisory LLC now owns 7,823 shares of the technology company’s stock valued at $2,357,000 after purchasing an additional 1,950 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in CyberArk Software during the third quarter worth approximately $8,612,000. 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.