CyberArk Software Ltd. (NASDAQ:CYBR) Forecasted to Earn Q2 2024 Earnings of ($0.44) Per Share

CyberArk Software Ltd. (NASDAQ:CYBR) – Zacks Research boosted their Q2 2024 earnings per share estimates for shares of CyberArk Software in a note issued to investors on Tuesday, May 21st. Zacks Research analyst A. Bhagat now anticipates that the technology company will post earnings of ($0.44) per share 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.

Several other research firms have also recently weighed in on CYBR. JMP Securities restated a “market outperform” rating and issued a $280.00 price objective on shares of CyberArk Software in a research report on Tuesday, May 14th. Rosenblatt Securities reiterated a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a research report on Wednesday, May 1st. Wedbush reiterated an “outperform” rating and set a $285.00 price target on shares of CyberArk Software in a research report on Friday, May 3rd. Susquehanna increased their price target on shares of CyberArk Software from $255.00 to $310.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $310.00 price target on shares of CyberArk Software in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.04.

CyberArk Software Stock Performance

CYBR stock opened at $239.86 on Friday. The company’s 50 day moving average is $248.47 and its 200 day moving average is $233.18. CyberArk Software has a 1-year low of $142.92 and a 1-year high of $283.00.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.16 earnings per share for the quarter, beating 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 firm had revenue of $221.55 million for the quarter, compared to analysts’ expectations of $213.42 million.

Hedge Funds Weigh In On CyberArk Software

Several institutional investors and hedge funds have recently modified their holdings of CYBR. Montag A & Associates Inc. bought a new position in shares of CyberArk Software during the first quarter valued at $27,000. Arcadia Investment Management Corp MI bought a new position in shares of CyberArk Software during the first quarter valued at $34,000. Blue Bell Private Wealth Management LLC bought a new position in shares of CyberArk Software during the first quarter valued at $34,000. FinTrust Capital Advisors LLC bought a new stake in CyberArk Software in the 4th quarter worth about $34,000. Finally, Central Bank & Trust Co. bought a new stake in CyberArk Software in the 1st quarter worth about $53,000. 91.84% of the stock is currently 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.