CyberArk (CYBR) shows strong financial performance, long-term growth expectation, and rising demand for cybersecurity solutions.

From Nasdaq: 2024-07-04 09:01:00

CyberArk’s (CYBR) shares surged 23.8% this year, driven by strong financial performance. Beating earnings estimates consistently with a 112% average surprise, CYBR has a long-term earnings growth expectation of 33.4%. With a Zacks Rank #1 and Growth Score of A, it presents a solid investment opportunity.

Looking ahead, CyberArk’s fiscal 2024 earnings are estimated to grow by 82.1%, reaching $2.04 per share. The consensus mark for fiscal 2025 stands at $3.35 per share, a 64% increase. With rising demand for cybersecurity solutions and increased budget allocations, CyberArk remains well-positioned for growth.

CyberArk’s enterprise password vault and PAM solutions are in high demand as companies beef up security measures to counter cyber threats. With a strong customer base, recent acquisitions like C3M and IDaptive Holdings have further enhanced its offerings, leading to a 37% year-over-year revenue increase in the first quarter of 2024.

Consider other top-ranked stocks in the tech sector like NVIDIA (NVDA), Dropbox (DBX), and Datadog (DDOG), each with a Zacks Rank #1. NVDA’s earnings estimate for 2025 has been revised upward, with stock prices soaring 159% this year. Similarly, DBX and DDOG show positive earnings estimate revisions, despite stock price fluctuations.

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Read more at Nasdaq: Here’s Why CyberArk (CYBR) is a Promising Portfolio Pick Now