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Here's Why CyberArk (CYBR) Fell More Than Broader Market
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The latest trading session saw CyberArk (CYBR - Free Report) ending at $259.63, denoting a -0.83% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.71%. Elsewhere, the Dow lost 0.93%, while the tech-heavy Nasdaq lost 0.81%.
Shares of the maker of software that detects attacks on privileged accounts witnessed a gain of 2.05% over the previous month, beating the performance of the Computer and Technology sector with its loss of 3.88% and the S&P 500's gain of 1.08%.
Analysts and investors alike will be keeping a close eye on the performance of CyberArk in its upcoming earnings disclosure. The company's earnings report is set to go public on August 8, 2024. The company's upcoming EPS is projected at $0.41, signifying a 1266.67% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $219.26 million, indicating a 24.69% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.04 per share and revenue of $935.16 million, which would represent changes of +82.14% and +24.38%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for CyberArk. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. CyberArk is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, CyberArk is holding a Forward P/E ratio of 128.34. This valuation marks a premium compared to its industry's average Forward P/E of 29.77.
Investors should also note that CYBR has a PEG ratio of 3.84 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Computers - IT Services industry stood at 3.24 at the close of the market yesterday.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Here's Why CyberArk (CYBR) Fell More Than Broader Market
The latest trading session saw CyberArk (CYBR - Free Report) ending at $259.63, denoting a -0.83% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.71%. Elsewhere, the Dow lost 0.93%, while the tech-heavy Nasdaq lost 0.81%.
Shares of the maker of software that detects attacks on privileged accounts witnessed a gain of 2.05% over the previous month, beating the performance of the Computer and Technology sector with its loss of 3.88% and the S&P 500's gain of 1.08%.
Analysts and investors alike will be keeping a close eye on the performance of CyberArk in its upcoming earnings disclosure. The company's earnings report is set to go public on August 8, 2024. The company's upcoming EPS is projected at $0.41, signifying a 1266.67% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $219.26 million, indicating a 24.69% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.04 per share and revenue of $935.16 million, which would represent changes of +82.14% and +24.38%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for CyberArk. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. CyberArk is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, CyberArk is holding a Forward P/E ratio of 128.34. This valuation marks a premium compared to its industry's average Forward P/E of 29.77.
Investors should also note that CYBR has a PEG ratio of 3.84 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Computers - IT Services industry stood at 3.24 at the close of the market yesterday.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.