FY2024 Earnings Forecast for CYBR Issued By Scotiabank

CyberArk Software Ltd. (NASDAQ:CYBR) – Equities researchers at Scotiabank issued their FY2024 earnings per share estimates for shares of CyberArk Software in a report issued on Wednesday, January 8th. Scotiabank analyst P. Colville expects that the technology company will earn ($0.55) per share for the year. Scotiabank has a “Sector Outperform” rating and a $340.00 price target on the stock. The consensus estimate for CyberArk Software’s current full-year earnings is ($0.58) per share. Scotiabank also issued estimates for CyberArk Software’s FY2025 earnings at ($0.20) EPS.

A number of other research firms have also recently commented on CYBR. Wedbush increased their target price on CyberArk Software from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada increased their price target on shares of CyberArk Software from $358.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Jefferies Financial Group upped their price objective on shares of CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. DA Davidson boosted their price target on shares of CyberArk Software from $360.00 to $390.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Piper Sandler raised their price objective on CyberArk Software from $345.00 to $380.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to MarketBeat, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average price target of $350.22.

CyberArk Software Trading Down 1.7 %

CYBR stock opened at $337.83 on Monday. The company’s 50 day moving average is $319.47 and its 200 day moving average is $290.87. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 1,251.27 and a beta of 1.13. CyberArk Software has a 1-year low of $221.12 and a 1-year high of $348.29.

CyberArk Software (NASDAQ:CYBR) last issued its quarterly earnings data on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating 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 company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $234.10 million. During the same quarter in the previous year, the company earned ($0.31) earnings per share. CyberArk Software’s revenue for the quarter was up 25.6% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Coldstream Capital Management Inc. increased its holdings in CyberArk Software by 3.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,230 shares of the technology company’s stock valued at $359,000 after acquiring an additional 42 shares during the last quarter. Greenleaf Trust grew its holdings in CyberArk Software by 2.5% during the 3rd quarter. Greenleaf Trust now owns 1,829 shares of the technology company’s stock valued at $533,000 after buying an additional 45 shares in the last quarter. Signaturefd LLC increased its stake in CyberArk Software by 4.2% in the 3rd quarter. Signaturefd LLC now owns 1,206 shares of the technology company’s stock worth $352,000 after acquiring an additional 49 shares during the last quarter. Austin Private Wealth LLC grew its holdings in shares of CyberArk Software by 6.8% in the third quarter. Austin Private Wealth LLC now owns 815 shares of the technology company’s stock valued at $238,000 after purchasing an additional 52 shares in the last quarter. Finally, Juncture Wealth Strategies LLC increased its position in CyberArk Software by 2.1% in the third quarter. Juncture Wealth Strategies LLC now owns 2,830 shares of the technology company’s stock worth $825,000 after purchasing an additional 57 shares during the last quarter. 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.