Q2 2024 EPS Estimates for CyberArk Software Ltd. (NASDAQ:CYBR) Boosted by Zacks Research

CyberArk Software Ltd. (NASDAQ:CYBR) – Research analysts at Zacks Research boosted their Q2 2024 earnings per share estimates for shares of CyberArk Software in a research report issued to clients and investors on Tuesday, May 21st. Zacks Research analyst A. Bhagat now expects that the technology company will post earnings per share of ($0.44) for the quarter, up from their prior estimate of ($0.57). The consensus estimate for CyberArk Software’s current full-year earnings is ($1.28) per share. Zacks Research also issued estimates for CyberArk Software’s Q3 2024 earnings at ($0.51) EPS, Q4 2024 earnings at ($0.45) EPS, FY2024 earnings at ($1.44) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($1.16) EPS, Q1 2026 earnings at ($0.29) EPS and FY2026 earnings at ($0.83) EPS.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.51) by $0.67. CyberArk Software had a negative return on equity of 2.51% and a negative net margin of 3.20%. The business had revenue of $221.55 million during the quarter, compared to analysts’ expectations of $213.42 million.

Several other research analysts have also recently issued reports on the stock. JMP Securities increased their price target on shares of CyberArk Software from $280.00 to $310.00 and gave the stock a “market outperform” rating in a report on Friday. Truist Financial increased their target price on CyberArk Software from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. KeyCorp lifted their price target on CyberArk Software from $274.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Mizuho upped their price objective on CyberArk Software from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Bank of America reissued a “buy” rating and issued a $315.00 target price on shares of CyberArk Software in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CyberArk Software presently has an average rating of “Moderate Buy” and an average target price of $267.29.

CyberArk Software Stock Performance

Shares of CyberArk Software stock opened at $241.53 on Friday. CyberArk Software has a one year low of $142.92 and a one year high of $283.00. The company has a market cap of $10.21 billion, a P/E ratio of -376.23 and a beta of 1.06. The firm has a fifty day moving average of $248.47 and a two-hundred day moving average of $233.18.

Institutional Investors Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Dallas Securities Inc. boosted its holdings in CyberArk Software by 3.2% in the first quarter. First Dallas Securities Inc. now owns 1,600 shares of the technology company’s stock valued at $425,000 after purchasing an additional 50 shares during the last quarter. Desjardins Global Asset Management Inc. grew its position in shares of CyberArk Software by 22.1% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 282 shares of the technology company’s stock worth $62,000 after buying an additional 51 shares in the last quarter. Signaturefd LLC grew its position in shares of CyberArk Software by 6.6% during the fourth quarter. Signaturefd LLC now owns 868 shares of the technology company’s stock worth $190,000 after buying an additional 54 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of CyberArk Software by 1.1% in the third quarter. HighTower Advisors LLC now owns 5,476 shares of the technology company’s stock worth $894,000 after buying an additional 60 shares during the last quarter. Finally, Wealth Alliance raised its holdings in CyberArk Software by 2.6% in the fourth quarter. Wealth Alliance now owns 2,399 shares of the technology company’s stock valued at $526,000 after acquiring an additional 60 shares in the last quarter. 91.84% of the stock is currently owned by institutional investors and hedge funds.

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.