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CyberArk Software ((CYBR - Free Report) ) has remained in the upper realms of the Zacks Rank since its last stunning beat and raise quarter reported in early February.
With its 72% EPS beat for Q4, the mid-cap leader in end-to-end identity security and continuous cyber threat detection has now posted four consecutive quarters averaging a positive surprise of 76%.
After its post-earnings 20% surge, CYBR stock nosed into the big-cap arena with a market capitalization of over $11 billion.
And barring a bigger stock market correction, it will likely remain there as the company's outlook keeps pushing higher for both sales and profits, forcing Wall Street analysts to keep raising their estimates.
Current consensus projections are making growth investors salivate as CyberArk is able to leverage its recurring revenues, subscriptions, and margins into higher realms of profitability...
Estimates as of 4/16/24
2024 Revenue: +23.2% to $926M 2025 Revenue: +22.3% to $1.13B
2024 EPS: +57% to $1.76 2025 EPS: +90% to $3.34
Given this strong growth outlook, investors and analysts will be watching with eyes wide when CyberArk reports its Q2 results in early May.
The link above is to my Zacks Confidential special report in October where I recommended buying shares of CYBR under $170. I also suggested buying CrowdStrike ((CRWD - Free Report) ), Okta((OKTA - Free Report) ), and Datadog ((DDOG - Free Report) ).
You can get the rationale for loading up on 4 unique players in the full report. Here, let's review part of the CYBR growth story...
In the fourth quarter of 2023, the Identity Security solution provider’s reported revenues increased 32% year over year to $223.1 million and surpassed the consensus mark of $209.7 million. Markedly, more than 90% of quarterly revenues were recurring in nature, which surged 41% year over year to $201.5 million.
Annual Recurring Revenues (“ARR”) increased 36% to $774 million. The subscription portion, which accounted for 75% of the total ARR, soared 60% year over year to $582 million. This upside was primarily driven by a record number of software-as-a-service solution bookings and the strong demand for on-premise subscription offerings.
In my State of Threat: Cyber Crime 3.0 report, I wrote this...
With more big hacks and data breaches in the past few months, including MGM, 23andMe, and Flagstar Bank of Michigan -- their third since 2021 -- it’s becoming clear that a permanent state of ever-sophisticated threats exist for companies of all sizes.
We may have naively thought at some point in the past few years that cybersecurity companies, armed with big technology, bigger enterprise customer budgets, and highly-skilled people, would eventually close the gaps in corporate defenses.
But that dream has faded into a much more sober realization. Cyber crime is now one of the most advanced organized criminal ventures on the planet.
From state-sanctioned hacking, theft, and espionage to the incredible digital reach of skilled, armed bad actors across the globe, the lure of endless power and riches compares to any revolution in human history -- including the great Age of Exploration in the 16th to 18th centuries.
Note: I just read SpaceX engineer Andrew Rader’s book Beyond the Known for the second time and he knows his seafaring history as well as anyone. Highly recommend it.
But it gets worse. Just as we come to grips with the bad guys always being one step ahead of our latest data defenses, a new weapon has been presented to them that will intensify the war exponentially.
That weapon, of course, is Artificial Intelligence (AI). As much as I praise the growth and advancement that AI is bringing to industry, science, and society, we can easily see it is a double-edged sword when hidden forces can manipulate and destroy from a safe distance in their cyber bunkers.
(end of excerpt from my Zacks Confidential special report)
To see the full detailed report with expert analysis on cybercrime scope, projections, and costs, just go to State of Threat.
If you don't have a subscription to Zacks Confidential -- where one of a dozen analysts writes a unique research report on a particular industry, sector, or economy-wide growth trend every Monday -- it is by far one of the best deals in investment analysis anywhere at under $100 per year.
Last time I checked it was still only $59 a year for 52 fresh, proprietary reports. And you get access to all the archives going back several years. Whatever the current price, you can get a 30-day trial for a buck and see for yourself if you find value in our research and stock picks.
See More Zacks Research for These Tickers
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Bull of the Day: CyberArk Software (CYBR)
CyberArk Software ((CYBR - Free Report) ) has remained in the upper realms of the Zacks Rank since its last stunning beat and raise quarter reported in early February.
With its 72% EPS beat for Q4, the mid-cap leader in end-to-end identity security and continuous cyber threat detection has now posted four consecutive quarters averaging a positive surprise of 76%.
After its post-earnings 20% surge, CYBR stock nosed into the big-cap arena with a market capitalization of over $11 billion.
And barring a bigger stock market correction, it will likely remain there as the company's outlook keeps pushing higher for both sales and profits, forcing Wall Street analysts to keep raising their estimates.
Current consensus projections are making growth investors salivate as CyberArk is able to leverage its recurring revenues, subscriptions, and margins into higher realms of profitability...
Estimates as of 4/16/24
2024 Revenue: +23.2% to $926M
2025 Revenue: +22.3% to $1.13B
2024 EPS: +57% to $1.76
2025 EPS: +90% to $3.34
Given this strong growth outlook, investors and analysts will be watching with eyes wide when CyberArk reports its Q2 results in early May.
State of Threat: Cyber Crime 3.0
The link above is to my Zacks Confidential special report in October where I recommended buying shares of CYBR under $170. I also suggested buying CrowdStrike ((CRWD - Free Report) ), Okta ((OKTA - Free Report) ), and Datadog ((DDOG - Free Report) ).
You can get the rationale for loading up on 4 unique players in the full report. Here, let's review part of the CYBR growth story...
In the fourth quarter of 2023, the Identity Security solution provider’s reported revenues increased 32% year over year to $223.1 million and surpassed the consensus mark of $209.7 million. Markedly, more than 90% of quarterly revenues were recurring in nature, which surged 41% year over year to $201.5 million.
Annual Recurring Revenues (“ARR”) increased 36% to $774 million. The subscription portion, which accounted for 75% of the total ARR, soared 60% year over year to $582 million. This upside was primarily driven by a record number of software-as-a-service solution bookings and the strong demand for on-premise subscription offerings.
In my State of Threat: Cyber Crime 3.0 report, I wrote this...
With more big hacks and data breaches in the past few months, including MGM, 23andMe, and Flagstar Bank of Michigan -- their third since 2021 -- it’s becoming clear that a permanent state of ever-sophisticated threats exist for companies of all sizes.
We may have naively thought at some point in the past few years that cybersecurity companies, armed with big technology, bigger enterprise customer budgets, and highly-skilled people, would eventually close the gaps in corporate defenses.
But that dream has faded into a much more sober realization. Cyber crime is now one of the most advanced organized criminal ventures on the planet.
From state-sanctioned hacking, theft, and espionage to the incredible digital reach of skilled, armed bad actors across the globe, the lure of endless power and riches compares to any revolution in human history -- including the great Age of Exploration in the 16th to 18th centuries.
Note: I just read SpaceX engineer Andrew Rader’s book Beyond the Known for the second time and he knows his seafaring history as well as anyone. Highly recommend it.
But it gets worse. Just as we come to grips with the bad guys always being one step ahead of our latest data defenses, a new weapon has been presented to them that will intensify the war exponentially.
That weapon, of course, is Artificial Intelligence (AI). As much as I praise the growth and advancement that AI is bringing to industry, science, and society, we can easily see it is a double-edged sword when hidden forces can manipulate and destroy from a safe distance in their cyber bunkers.
(end of excerpt from my Zacks Confidential special report)
To see the full detailed report with expert analysis on cybercrime scope, projections, and costs, just go to State of Threat.
If you don't have a subscription to Zacks Confidential -- where one of a dozen analysts writes a unique research report on a particular industry, sector, or economy-wide growth trend every Monday -- it is by far one of the best deals in investment analysis anywhere at under $100 per year.
Last time I checked it was still only $59 a year for 52 fresh, proprietary reports. And you get access to all the archives going back several years. Whatever the current price, you can get a 30-day trial for a buck and see for yourself if you find value in our research and stock picks.