Zacks: Analysts Expect Cyberark Software Ltd (CYBR) Will Announce Quarterly Sales of $97.21 Million

Wall Street analysts forecast that Cyberark Software Ltd (NASDAQ:CYBR) will announce sales of $97.21 million for the current quarter, Zacks reports. Eight analysts have issued estimates for Cyberark Software’s earnings. The lowest sales estimate is $96.87 million and the highest is $98.00 million. Cyberark Software reported sales of $77.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 6th.

According to Zacks, analysts expect that Cyberark Software will report full-year sales of $417.83 million for the current fiscal year, with estimates ranging from $416.31 million to $419.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $494.17 million, with estimates ranging from $484.00 million to $503.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover Cyberark Software.

Cyberark Software (NASDAQ:CYBR) last released its earnings results on Tuesday, May 14th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.33. Cyberark Software had a return on equity of 12.73% and a net margin of 14.79%. The business had revenue of $95.94 million during the quarter, compared to the consensus estimate of $92.42 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year.

Several analysts have recently weighed in on CYBR shares. Morgan Stanley set a $126.00 target price on Cyberark Software and gave the stock a “buy” rating in a research report on Friday, February 15th. UBS Group downgraded Cyberark Software from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $119.00 to $132.00 in a research report on Thursday, April 25th. Wedbush lifted their price objective on Cyberark Software from $95.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, February 15th. Barclays lifted their price objective on Cyberark Software from $112.00 to $122.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Finally, FBN Securities initiated coverage on Cyberark Software in a report on Tuesday, March 19th. They issued an “outperform” rating and a $130.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Cyberark Software currently has a consensus rating of “Buy” and an average price target of $107.55.

Several hedge funds have recently modified their holdings of the company. Eagle Asset Management Inc. grew its stake in shares of Cyberark Software by 3.6% during the first quarter. Eagle Asset Management Inc. now owns 5,087 shares of the technology company’s stock worth $605,000 after acquiring an additional 177 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Cyberark Software by 100.0% during the first quarter. Global Retirement Partners LLC now owns 400 shares of the technology company’s stock worth $48,000 after acquiring an additional 200 shares during the last quarter. Signaturefd LLC grew its stake in shares of Cyberark Software by 40.0% during the first quarter. Signaturefd LLC now owns 700 shares of the technology company’s stock worth $83,000 after acquiring an additional 200 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Cyberark Software by 2,490.0% during the first quarter. Advisory Services Network LLC now owns 259 shares of the technology company’s stock worth $31,000 after acquiring an additional 249 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cyberark Software by 0.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,042 shares of the technology company’s stock worth $2,672,000 after acquiring an additional 261 shares during the last quarter. Institutional investors and hedge funds own 80.76% of the company’s stock.

Shares of NASDAQ:CYBR traded up $3.11 on Wednesday, hitting $135.77. 986,058 shares of the company’s stock were exchanged, compared to its average volume of 933,794. Cyberark Software has a 12 month low of $58.63 and a 12 month high of $136.85. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 94.94, a price-to-earnings-growth ratio of 6.82 and a beta of 1.87.

About Cyberark Software

CyberArk Software Ltd., together with its subsidiaries, provides software-based security solutions and services for organizations to safeguard and monitor their privileged accounts. The company's solutions include Core Privileged Access Security for risk-based credential security and session management with add-on options for least privilege server and domain controller protection; Application Access Manager for secrets management for applications, tools, containers, and DevOps; and Endpoint Privilege Manager for least privilege and credential theft protection for workstations.

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