CyberArk (CYBR) closed at $269.91 in the latest trading session, marking a modest increase of 0.26% compared to the previous day. This gain, however, fell short of the broader market indices, with the S&P 500 rising by 0.55%, the Dow gaining 0.62%, and the technology-focused Nasdaq up by 0.63%.
Over the past month, CyberArk’s stock has surged by 6.92%, outpacing both the Computer and Technology sector’s rise of 5.73% and the S&P 500’s 4.28% gain. Investors are keenly awaiting CyberArk’s upcoming earnings report, scheduled for release on August 8, 2024. The company is expected to report an EPS of $0.41, a significant increase of 1266.67% from the same quarter last year. Additionally, revenue estimates stand at $219.26 million, reflecting a 24.69% growth from the prior-year quarter.
For the entire fiscal year, Zacks Consensus Estimates forecast earnings of $2.04 per share and revenue of $935.16 million, indicating annual increases of 82.14% and 24.38%, respectively, compared to the previous year.
Of note are the recent alterations in analyst estimates for CyberArk, which often mirror the latest business trends. Positive revisions in these estimates suggest growing analyst confidence in the company’s performance and profitability. Research has shown that such estimate revisions are closely linked to short-term share price movements. The Zacks Rank, a system designed to harness this correlation, assigns a rating from #1 (Strong Buy) to #5 (Strong Sell). Stocks rated #1 have historically delivered an average annual return of 25% since 1988. Currently, CyberArk holds a Zacks Rank of #1 (Strong Buy), with the EPS estimate remaining stable over the past month.
In terms of valuation, CyberArk is trading at a Forward P/E ratio of 131.97, significantly higher than the industry’s average Forward P/E of 28.29. Furthermore, CyberArk’s PEG ratio stands at 3.95, which, unlike the P/E ratio, factors in the company’s projected earnings growth rate. The industry’s average PEG ratio, as recorded at the close of the previous day, was 3.15.
CyberArk is part of the Computers – IT Services industry within the broader Computer and Technology sector. This industry holds a Zacks Industry Rank of 78, placing it in the upper 31% of more than 250 industries ranked by Zacks. Historical data shows that the top 50% ranked industries outperform the bottom half by a factor of 2 to 1.
Stay tuned to Zacks.com for ongoing updates and metrics on CyberArk and other market-moving stocks.
