CYBR Bolsters Growth Prospects as Analysts Predict Strong Q2 Earnings Report
NASDAQ listed CyberArk Software Ltd. has been in the spotlight for a while, recently attracting the attention of analysts who have raised their price targets and ratings on shares of the company. The Israeli cybersecurity firm’s stock opened at $154.89 on Monday with a market cap of $6.34 billion and a beta of 1.09.
CyberArk Software specializes in creating software that helps large organizations secure their privileged accounts and monitor activity within their IT infrastructure to prevent data breach attempts by hackers and harmful insiders. Moreover, CYBR enables enterprises to harness vital insights into cyber threats to boost their business operations.
Analysts’ forecasts reveal an upward trend for CYBR’s share price amid expectations that its Q2 earnings report will show impressive numbers despite some revenue losses stemming from the global COVID-19 pandemic.
Barclays increased their price target on shares of CyberArk Software from $175.00 to $178.00 in a research report on Friday, May 12th.
Additionally, Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price objective on shares of CyberArk Software stating they remain bullish about the growing demand for CYBR’s solutions.” Morgan Stanley lifted their price target on shares of CyberArk Software from $160.00 to $173.00 and gave the company an “overweight” rating, agreeing that investors should continue to view security as an important growth driver.
Citigroup raised their price objective on CyberArk Software from $155.00 to $175.00 – given its strong positioning amid the ongoing cybersecurity shift globally.
Undoubtedly, it is encouraging news for CYBR investors who would be most interested in capitalizing on this considerable hype around the stock’s performance potential.
In conclusion, Bloomberg reported that despite concerns about revenue impacts caused by COVID-19, CyberArk Software is still sitting towards the top of investors’ buy lists. Five investment analysts have rated the stock with a hold rating while nineteen have given the company’s stock a nod and buy rating As of now, CYBR has an average rating of “Moderate Buy,” reflecting this positive sentiment from key financial experts, with an average price target of $174.77.
CyberArk Software Ltd. Faces Lowered Q2 2023 EPS Estimates: Will Investor Confidence Remain Strong?
CyberArk Software Ltd. (NASDAQ:CYBR) has recently been hit with lowered Q2 2023 EPS estimates by Zacks Research analysts. With this new development, it might be time for investors to be cautious.
According to Zacks Research analyst A. Bhagat, the technology company will now earn ($0.98) per share for the quarter, down from their prior forecast of ($0.86). This drastic change in estimation signifies that CyberArk Software may not be performing as well as expected, and this news might evoke negative reactions amongst investors who have placed their bets on the company’s success.
The consensus estimate for CyberArk Software’s current full-year earnings is ($2.41) per share, which is quite a drop from its previous earnings projection.
Moreover, Zacks Research has issued a gloomy outlook for CyberArk Software’s future earnings too. The tech company’s Q3 2023 earnings are projected at ($0.62) EPS, while the Q4 2023 earnings are expected to dip further at ($0.41) EPS.
The year 2023 doesn’t offer much hope either as FY2023 estimated earnings stand at ($2.94) EPS.
Zacks Research went further ahead and predicted that even in 2024, things wouldn’t turn up roses as they’ve predicted similarly lower sets of earnings ranging from ($0.69) EPS in Q1 2024 to ($2.42) EPS for FY2024.
This trend continues in Q1 of 2025 where estimated sales would be standing at an abyssmal $0.47 per share whereas shareholders can expect CYBERARK to muster enough strength to generate ($0.99) EPS towards the end of FY2025.
Cybersecurity plays an essential role in today’s business environment; therefore, it is pertinent that companies like CyberArk maintain their streaks of profitability to encourage business and investors’ confidence.
While it’s vital to realize that these estimates are just predictions, they do suggest the company is not performing as well as hoped. It will be interesting to see how the market reacts to this new development, and whether CyberArk will be able to turn this situation around in its favor. Investors should keep an eye on how the management responds and adjust their investment strategies accordingly.
