CyberArk Software Ltd. (NASDAQ:CYBR) Expected to Post Quarterly Sales of $120.42 Million

Brokerages predict that CyberArk Software Ltd. (NASDAQ:CYBR) will report sales of $120.42 million for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for CyberArk Software’s earnings, with estimates ranging from $118.30 million to $124.00 million. CyberArk Software reported sales of $106.59 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, November 9th.

On average, analysts expect that CyberArk Software will report full year sales of $491.95 million for the current year, with estimates ranging from $489.66 million to $496.00 million. For the next year, analysts forecast that the firm will post sales of $554.00 million, with estimates ranging from $544.71 million to $568.24 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CyberArk Software.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, August 12th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.29. CyberArk Software had a negative net margin of 8.68% and a negative return on equity of 2.32%.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of CyberArk Software from a “hold” rating to a “strong sell” rating and set a $133.00 price target for the company. in a research note on Tuesday, August 17th. William Blair restated an “outperform” rating on shares of CyberArk Software in a report on Thursday, August 12th. Robert W. Baird raised their target price on shares of CyberArk Software from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, August 13th. Colliers Securities reiterated a “buy” rating and set a $200.00 price target on shares of CyberArk Software in a research note on Wednesday. Finally, Wolfe Research lifted their price target on shares of CyberArk Software from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, August 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CyberArk Software presently has an average rating of “Buy” and a consensus target price of $177.77.

NASDAQ CYBR opened at $168.66 on Friday. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of -156.17 and a beta of 1.28. The company has a 50-day simple moving average of $155.24 and a two-hundred day simple moving average of $141.61. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 0.71. CyberArk Software has a 12-month low of $95.12 and a 12-month high of $171.34.

Hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of CyberArk Software by 302.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 675,846 shares of the technology company’s stock valued at $88,042,000 after purchasing an additional 508,100 shares during the period. Wasatch Advisors Inc. raised its holdings in CyberArk Software by 13.8% during the second quarter. Wasatch Advisors Inc. now owns 3,816,298 shares of the technology company’s stock worth $497,149,000 after purchasing an additional 462,494 shares in the last quarter. Legal & General Group Plc raised its holdings in CyberArk Software by 51.8% during the second quarter. Legal & General Group Plc now owns 875,801 shares of the technology company’s stock worth $114,090,000 after purchasing an additional 298,851 shares in the last quarter. Franklin Resources Inc. raised its holdings in CyberArk Software by 18.3% during the second quarter. Franklin Resources Inc. now owns 1,881,158 shares of the technology company’s stock worth $245,058,000 after purchasing an additional 291,465 shares in the last quarter. Finally, Jarislowsky Fraser Ltd acquired a new stake in CyberArk Software during the second quarter worth approximately $35,735,000. 87.52% of the stock is owned by institutional investors.

About CyberArk Software

CyberArk Software Ltd. engages in the development, market, and sale of access security software solutions. It offers its products and services to banking, insurance, healthcare, and federal industries. The company was founded by Udi Mokady and Alon Cohen in 1999 and is headquartered in Petah Tikva, Israel.

Featured Article: What is a Fiduciary?

Get a free copy of the Zacks research report on CyberArk Software (CYBR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CyberArk Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CyberArk Software and related companies with MarketBeat.com's FREE daily email newsletter.