Group 1: Acquisition Details - CyberArk is acquiring Venafi for $1.54 billion, consisting of $1 billion in cash and approximately $540 million in shares, with the deal expected to close in the second half of 2024 [1][2] - Venafi was majority-owned by Thoma Bravo since 2020, when it was valued at $1.15 billion, indicating a moderate increase in its selling price [1][2] Group 2: Market Context - The acquisition comes as security teams seek a better understanding of the complex threat landscape due to the growth of mobile technology, cloud services, and distributed working [2][3] - There is an explosion of computing endpoints, with a rule of thumb suggesting 40 machines for every human on an enterprise network, driving demand for identity security solutions [2] Group 3: Strategic Implications - Venafi's technology focuses on securing data flow between machines and is specialized in PKI and certificate management, which will expand CyberArk's total addressable market by $10 billion to $60 billion [3] - CyberArk's CEO stated that the acquisition will enhance their ability to secure both human and machine identities, addressing the needs of global enterprises against sophisticated attacks [3] Group 4: Industry Trends - The cybersecurity industry is experiencing a consolidation trend, with some companies facing pressure on valuations and seeking exits at lower prices [4] - Conversely, a few cybersecurity firms are growing significantly and are positioned as consolidators, such as Wiz, which recently raised $1 billion for acquisitions [4][5]

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Core Viewpoint - CyberArk (CYBR) has experienced a decline of -9.1% in stock price over the past month, contrasting with the S&P 500's -0.4% change, and the IT Services industry has lost 4.5% during the same period, raising questions about the stock's near-term performance [1] Earnings Estimate Revisions - The consensus earnings estimate for CyberArk is projected at $0.30 per share for the current quarter, reflecting a year-over-year increase of +900% [3] - For the current fiscal year, the consensus earnings estimate is $1.83, indicating a +63.4% change from the previous year [3] - The next fiscal year's consensus earnings estimate stands at $3.30, suggesting an +80.5% change compared to the prior year [3] - The Zacks Rank for CyberArk is 3 (Hold), based on recent changes in earnings estimates and other related factors [3] Revenue Growth Potential - The consensus sales estimate for the current quarter is $219.15 million, representing a year-over-year increase of +24.6% [6] - For the current fiscal year, the sales estimate is $933.76 million, indicating a +24.2% change, while the next fiscal year's estimate is $1.14 billion, reflecting a +22% change [6] Last Reported Results and Surprise History - CyberArk reported revenues of $221.55 million in the last quarter, a +37% year-over-year increase, and an EPS of $0.75 compared to -$0.17 a year ago [7] - The reported revenues exceeded the Zacks Consensus Estimate of $213.42 million by +3.81%, and the EPS surprise was +177.78% [7] - The company has consistently beaten consensus EPS and revenue estimates over the last four quarters [7] Valuation - CyberArk is graded F in the Zacks Value Style Score, indicating it is trading at a premium compared to its peers [10] - Valuation multiples such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) are essential for assessing whether the stock is fairly valued [8][9]

CyberArk Software Ltd. (NASDAQ:CYBR) Q1 2024 Results Conference Call May 2, 2024 8:30 AM ET Company Participants Erica Smith - Senior Vice President, Finance and Investor Relations Matt Cohen - Chief Executive Officer Josh Siegel - Chief Financial Officer Conference Call Participants Saket Kalia - Barclays Gregg Moskowitz - Mizuho Brian Essex - JPMorgan Rob Owens - Piper Sandler Fatima Boolani - Citigroup Joseph Gallo - Jefferies Hamza Fodderwala - Morgan Stanley Adam Borg - Stifel Roger Boyd - UBS Securiti ...

For the quarter ended March 2024, CyberArk (CYBR) reported revenue of $221.55 million, up 37% over the same period last year. EPS came in at $0.75, compared to -$0.17 in the year-ago quarter.The reported revenue represents a surprise of +3.81% over the Zacks Consensus Estimate of $213.42 million. With the consensus EPS estimate being $0.27, the EPS surprise was +177.78%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street exp ...

CyberArk (CYBR) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 177.78%. A quarter ago, it was expected that this maker of software that detects attacks on privileged accounts would post earnings of $0.47 per share when it actually produced earnings of $0.81, delivering a surprise of 72.3 ...

CyberArk Software Ltd. (CYBR) , a software-based identity security solution and services provider, is set to report first-quarter 2024 results before market open on May 2.Shares of CyberArk have outperformed the Zacks Computer – IT Services industry in the year-to-date (YTD) period. CYBR stock has risen 10.8% YTD, while the Computer – IT Services industry increased 5.7% during the same time frame.The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average ...

In the latest market close, CyberArk (CYBR) reached $242.60, with a -1.01% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 1.02%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 2.03%.Prior to today's trading, shares of the maker of software that detects attacks on privileged accounts had lost 7.74% over the past month. This has lagged the Computer and Technology sector's loss of 5.32% and the S&P 500's loss of 3.15% in that time. ...

CyberArk (CYBR) closed at $244.53 in the latest trading session, marking a +1.84% move from the prior day. This change outpaced the S&P 500's 0.02% gain on the day. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.Prior to today's trading, shares of the maker of software that detects attacks on privileged accounts had lost 8.87% over the past month. This has lagged the Computer and Technology sector's loss of 5.13% and the S&P 500's loss of 3.01% in ...

Core Insights - CyberArk (CYBR) has launched its Identity Security Platform services from a data center in the UAE to enhance data sovereignty and support local cybersecurity regulations [1] - The company is expanding its market share and competitive advantage through innovative offerings, including the CyberArk Secure Browser and an AI Center of Excellence [2] - The shift towards hybrid work arrangements is driving demand for CyberArk's security solutions, positively impacting its revenue [3] Group 1: Company Developments - CyberArk's new UAE-based data center will allow organizations to manage and store data within the UAE, addressing local cybersecurity needs [1] - The introduction of the CyberArk Secure Browser enhances its Identity Security offerings, catering to enterprise needs [2] - The establishment of an AI Center of Excellence reflects CyberArk's commitment to innovation in response to evolving cybersecurity threats [2] Group 2: Market Performance - CyberArk has achieved a Zacks Rank 1 (Strong Buy) and has seen a share price increase of 104.5% over the past year [4] - The company is positioned favorably within the technology sector, alongside other top-ranked stocks like Dell Technologies, Arista Networks, and Crexendo [4] - The upward revisions in earnings estimates for peer companies indicate a positive trend in the technology sector, which may benefit CyberArk as well [4]