FY2024 Earnings Forecast for CYBR Issued By Scotiabank

CyberArk Software Ltd. (NASDAQ:CYBR) – Analysts at Scotiabank issued their FY2024 earnings estimates for CyberArk Software in a report released on Wednesday, January 8th. Scotiabank analyst P. Colville anticipates that the technology company will post earnings of ($0.55) per share for the year. Scotiabank currently 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.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Wednesday, November 13th. The technology company reported $0.94 earnings per share (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 for 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 quarterly revenue was up 25.6% on a year-over-year basis.

Several other research firms have also commented on CYBR. KeyCorp boosted their price objective on shares of CyberArk Software from $340.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. StockNews.com raised shares of CyberArk Software from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Truist Financial reissued a “buy” rating and set a $350.00 price objective (up previously from $300.00) on shares of CyberArk Software in a research note on Thursday, November 14th. Mizuho boosted their price objective on shares of CyberArk Software from $345.00 to $365.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Barclays boosted their price objective on shares of CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. 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.com, CyberArk Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.22.

CyberArk Software Price Performance

Shares of NASDAQ CYBR opened at $341.51 on Monday. CyberArk Software has a 1 year low of $221.12 and a 1 year high of $348.29. The company’s 50-day moving average is $320.70 and its 200 day moving average is $291.34. The stock has a market capitalization of $14.88 billion, a P/E ratio of 1,264.90 and a beta of 1.13.

Institutional Trading of CyberArk Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC increased 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 buying an additional 9,570 shares during the last quarter. Groupama Asset Managment increased its holdings in CyberArk Software by 0.5% during the third quarter. Groupama Asset Managment now owns 1,042,767 shares of the technology company’s stock valued at $304,000 after buying an additional 5,402 shares during the last quarter. RGM Capital LLC increased its holdings in CyberArk Software by 2.1% during the second quarter. RGM Capital LLC now owns 814,129 shares of the technology company’s stock valued at $222,599,000 after buying an additional 16,530 shares during the last quarter. Whale Rock Capital Management LLC increased its holdings in CyberArk Software by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 460,964 shares of the technology company’s stock valued at $134,422,000 after buying an additional 14,927 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of CyberArk Software by 11.1% in the third quarter. Swedbank AB now owns 457,899 shares of the technology company’s stock worth $133,528,000 after purchasing an additional 45,799 shares in the last quarter. 91.84% of the stock is owned by hedge funds and other 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.