FY2024 EPS Estimates for CYBR Increased by Cantor Fitzgerald

CyberArk Software Ltd. (NASDAQ:CYBR) – Analysts at Cantor Fitzgerald raised their FY2024 earnings estimates for CyberArk Software in a research report issued on Monday, January 27th. Cantor Fitzgerald analyst J. Ruykhaver now expects that the technology company will post earnings per share of ($0.55) for the year, up from their prior forecast 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.

A number of other equities research analysts also recently weighed in on CYBR. JPMorgan Chase & Co. boosted their target price on CyberArk Software from $355.00 to $375.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Truist Financial increased their price objective on shares of CyberArk Software from $350.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday. DA Davidson increased their price target on CyberArk Software from $360.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Needham & Company LLC lifted their price objective on CyberArk Software from $360.00 to $410.00 and gave the stock a “buy” rating in a research note on Thursday, January 9th. Finally, Scotiabank raised their target price on CyberArk Software from $340.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $367.44.

CyberArk Software Stock Performance

CyberArk Software stock opened at $371.63 on Wednesday. The business’s fifty day moving average is $333.24 and its two-hundred day moving average is $297.93. CyberArk Software has a 52 week low of $223.09 and a 52 week high of $377.22. The firm has a market cap of $16.19 billion, a P/E ratio of 1,376.46 and a beta of 1.13.

CyberArk Software (NASDAQ:CYBR) last issued its earnings results on Wednesday, November 13th. The technology company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.46 by $0.48. The company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $234.10 million. CyberArk Software had a net margin of 1.38% and a return on equity of 2.29%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.31) EPS.

Hedge Funds Weigh In On CyberArk Software

Several hedge funds have recently made changes to their positions in CYBR. Thurston Springer Miller Herd & Titak Inc. acquired a new position in CyberArk Software during the fourth quarter worth $25,000. Assetmark Inc. increased its position in shares of CyberArk Software by 1,025.0% in the third quarter. Assetmark Inc. now owns 135 shares of the technology company’s stock valued at $39,000 after acquiring an additional 123 shares during the last quarter. Montag A & Associates Inc. raised its holdings in CyberArk Software by 47.2% during the fourth quarter. Montag A & Associates Inc. now owns 131 shares of the technology company’s stock worth $44,000 after acquiring an additional 42 shares in the last quarter. Brown Lisle Cummings Inc. bought a new stake in shares of CyberArk Software during the 4th quarter worth approximately $50,000. Finally, Transcendent Capital Group LLC bought a new position in shares of CyberArk Software in the 3rd quarter valued at about $51,000. 91.84% of the stock is owned by institutional investors.

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.