Cyberark Software Ltd (CYBR) Expected to Post Quarterly Sales of $78.81 Million

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Wall Street brokerages expect Cyberark Software Ltd (NASDAQ:CYBR) to announce sales of $78.81 million for the current quarter, according to Zacks. Seven analysts have made estimates for Cyberark Software’s earnings. The highest sales estimate is $79.00 million and the lowest is $78.53 million. Cyberark Software posted sales of $64.82 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21.6%. The firm is expected to issue its next earnings report after the market closes on Wednesday, November 7th.

According to Zacks, analysts expect that Cyberark Software will report full year sales of $322.28 million for the current financial year, with estimates ranging from $317.62 million to $323.80 million. For the next year, analysts expect that the business will report sales of $382.37 million, with estimates ranging from $374.50 million to $395.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Cyberark Software.

Cyberark Software (NASDAQ:CYBR) last posted its quarterly earnings results on Tuesday, August 7th. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.12. Cyberark Software had a net margin of 6.80% and a return on equity of 7.67%. The business had revenue of $77.71 million during the quarter, compared to the consensus estimate of $72.93 million.

Several analysts recently issued reports on the stock. Wedbush assumed coverage on shares of Cyberark Software in a research report on Thursday. They issued an “outperform” rating for the company. BidaskClub raised shares of Cyberark Software from a “hold” rating to a “buy” rating in a research report on Monday, October 1st. Morgan Stanley raised shares of Cyberark Software from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $71.00 to $92.00 in a research report on Thursday, September 27th. Piper Jaffray Companies lifted their price target on shares of Cyberark Software to $90.00 and gave the company an “overweight” rating in a research report on Monday, September 17th. Finally, Zacks Investment Research downgraded shares of Cyberark Software from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.25.

NASDAQ CYBR opened at $70.06 on Friday. Cyberark Software has a 12-month low of $40.63 and a 12-month high of $81.24. The firm has a market capitalization of $2.84 billion, a P/E ratio of 95.97, a price-to-earnings-growth ratio of 5.30 and a beta of 2.06.

A number of institutional investors and hedge funds have recently bought and sold shares of CYBR. Winslow Evans & Crocker Inc. bought a new stake in shares of Cyberark Software during the 3rd quarter worth $214,000. FundX Investment Group LLC bought a new stake in shares of Cyberark Software during the 2nd quarter worth $220,000. Allianz Asset Management GmbH bought a new stake in shares of Cyberark Software during the 1st quarter worth $228,000. Russell Investments Group Ltd. bought a new stake in shares of Cyberark Software during the 2nd quarter worth $238,000. Finally, CIBC World Markets Inc. bought a new stake in shares of Cyberark Software during the 1st quarter worth $245,000. 76.90% of the stock is currently owned by hedge funds and other institutional investors.

About Cyberark Software

CyberArk Software Ltd. develops, markets, and sells software-based security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor account access and activities. Its privileged account security solution consists of Enterprise Password Vault that prevents user passwords and SSH keys; Privileged Session Manager that protects windows based systems, databases, virtual machines, network devices, Web sites, and SaaS applications; and Privileged Threat Analytics that enables to detect, alert, and respond to anomalous privileged activity.

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