CyberArk Software Stock (NASDAQ:CYBR), Trade Ideas

CyberArk Software

CyberArk Software Ltd provides Information technology security solutions to protect data, infrastructure, and assets across the enterprise. The company's software solutions are focused on protecting privileged accounts, credentials, and secrets. Its products and services include Privileged Access Manager, Vendor Privileged Access Manager, Privileged Session Manager (PSM), Enterprise Password Vault (EPV), PrivateArk, and Privilege Cloud, among others. Geographically, it generates maximum revenue from the United States and also has a presence in Europe, Middle East and Africa and Other countries.

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Earnings

News

Guidance

CIBR

CYBR

IHAK

CyberArk Software Ltd (NASDAQ: CYBR) reported 37% Y/Y revenue growth to $221.55M and a $0.75 EPS, beating analyst expectations. ARR increased 34% and outlook for Q2 and fiscal 2024 improved. CYBR stock gained 95% in the last 12 months.

CyberArk Shares Slide Despite Positive Outlook, Earnings Report

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U.S. stocks look to push ahead on a positive path, now that the Federal Reserve’s rate decision is in the rearview mirror. Major index futures point to a positive open on Thursday.

Nasdaq, S&amp;P 500 Futures Rise Ahead Of Apple Earnings: Why This Analyst Thinks &#39;No Cut&#39; Scenario May Not Be Negative For Market

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With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages.

Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week

CyberArk Software Ltd

CYBRA CORP by CYBRA Corp.

DA Davidson analyst Rudy Kessinger maintains CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) with a Buy and lowers the price target from $300 to $275.

Price Target

Analyst Ratings

DA Davidson Maintains Buy on CyberArk Software, Lowers Price Target to $275

Cantor Fitzgerald analyst Yi Fu Lee reiterates CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) with a Overweight and maintains $300 price target.

Reiteration

Cantor Fitzgerald Reiterates Overweight on CyberArk Software, Maintains $300 Price Target

Wedbush analyst Daniel Ives reiterates CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) with a Outperform and maintains $285 price target.

Wedbush Reiterates Outperform on CyberArk Software, Maintains $285 Price Target

Needham analyst Alex Henderson reiterates CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) with a Buy and maintains $310 price target.

Needham Reiterates Buy on CyberArk Software, Maintains $310 Price Target

CyberArk Software Ltd&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) reported fiscal first-quarter 2024 revenue growth of 37% year-on-year to $221.55 million, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38577401/cyberark-announces-strong-first-quarter-2024-results" rel="noreferrer noopener">analyst consensus of $213.29 million</a>.&nbsp;
The information security company posted an adjusted EPS of $0.75, which beat the&nbsp;<a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">analyst consensus of $0.28</a>. The stock price declined after the print.
Segments: Revenues from Subscriptions expanded 69% Y/Y to $156.2 million. Maintenance and professional services were $62.4 million vs. $65.1 million Y/Y.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38252477/why-microsoft-alphabet-amazon-palantir-and-meta-could-rise-15-in-2024-according-to-" rel="noreferrer noopener">Why Microsoft, Alphabet, Amazon, Palantir, And Meta Could Rise 15% In 2024, According To&nbsp;Analyst</a>
Key Performance Indicators:&nbsp;Annual Recurring Revenue (ARR) increased 34%&nbsp;Y/Y&nbsp;to $811 million. The subscription portion of ARR was $621 million, implying a 54%&nbsp;Y/Y&nbsp;growth.&nbsp;
The Maintenance portion of ARR was $190 million compared to $202 million Y/Y. Recurring revenue grew 41% Y/Y to $205.8 million.&nbsp;
CyberArk held $1.4 billion in cash and equivalents as of March 31.
Outlook:&nbsp;CyberArk expects a fiscal second-quarter revenue of $215.0 million to $221.0 million versus the&nbsp;consensus of $221.0 million.
It projected an adjusted EPS of $0.34 – $0.44 versus the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $0.30</a>.
CyberArk projected fiscal 2024 revenue of $928.0 million &#8211; $938.0 million (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37010189/cybersecurity-firm-cyberark-software-stock-soars-after-q4-performance-heres-why" rel="noreferrer noopener">prior $920.0 million – $930.0 million</a>) versus the consensus of $927.1 million.&nbsp;
CyberArk expects an adjusted EPS outlook of $1.88 &#8211; $2.07 (prior $1.63 – $1.81) versus the consensus of $1.76.
ARR as of December 31, 2024, will likely range between &nbsp;$975 million&nbsp;&#8211; $990&nbsp;million (prior $968.0 million&nbsp;&#8211; $983.0&nbsp;million), up by 26%&nbsp;&#8211;&nbsp;28%.
Cyberark Software stock gained 95% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust NASDAQ Cybersecurity ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) and&nbsp;IShares Cybersecurity And Tech ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>).
Price Action: CYBR shares traded lower by 2.2% at $231.76 at last check Thursday.
Now Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38584705/federal-reserve-takes-cautious-stand-on-inflation-powell-signals-preference-for-r">Federal Reserve Takes Cautious Stand On Inflation, Powell Signals Preference For Rate Cuts Over Hikes</a>
Photo: Shutterstock

WIIM

CyberArk Software shares are trading lower. The company reported Q1 financial results.

CyberArk Sees FY24 Adj. EPS $1.88-$2.07 Vs $1.76 Estimate; Sees Revenue $928M-$938M Vs $927.11M Estimate

CyberArk Sees Q2 2024 Adj. EPS $0.34-$0.44 Vs $0.30 Estimate, Sees Revenue $215M-$221M Vs $221M Estimate

CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) reported quarterly earnings of $0.75 per share which beat the analyst consensus estimate of $0.28 by 167.86 percent. The company reported quarterly sales of $221.60 million which beat the analyst consensus estimate of $213.29 million by 3.90 percent. This is a 37.04 percent increase over sales of $161.71 million the same period last year.

Earnings Beats

CyberArk Software Q1 2024 Adj EPS $0.75 Beats $0.28 Estimate, Sales $221.60M Beat $213.29M Estimate

U.S. stocks look to push ahead on a positive path, now that the <a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel">Federal Reserve&#8217;s rate decision </a>is in the rearview mirror. Major index futures point to a positive open on Thursday. Pent-up demand following the recent losses could provide some upward thrust to the market but a lot would ride on the earnings reports that traders get to digest.
Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is on track to report after the market closes, while most tech earnings released after Wednesday&#8217;s closing bell have triggered negative reactions. Traders may also watch out for the jobless claims data and bond yields, given their significance for the Fed funds rate.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.95%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.64%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.36%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.87%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Thursday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.67% to $503.71,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.97% to $425.62, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Despite Fed Chair Jerome Powell treading a dovish line, the major averages closed mixed on Wednesday. Stocks mostly languished sideways until the afternoon, characteristic of a Fed decision day. They began to rise after the pause verdict was announced and the upward momentum accelerated after Powell&#8217;s press conference.
The Fed chief made it clear that the Fed would likely ease rather than tighten further and also conceded that the monetary policy is restrictive. Sentiment reversed course in the last thirty minutes of trading and the averages reversed course before closing mixed.
The S&amp;P 500 and the Nasdaq Composite fell for a second straight session, returning to their lowest closing level since April 22. The Dow Industrials ended higher, thanks to strong gains in the shares of Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>). Energy and IT stocks fell sharply, while utility and communication services stocks gained ground.
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<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.33%</td>
<td>15,605.48</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.34%</td>
<td>5,018.39</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.23%</td>
<td>37,903.29</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+0.32%</td>
<td>1,980.23</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
There is more downside risk to the market in the intermediate term, said Morgan Stanley&#8217;s Lisa Shalett. She noted that the prospect of interest rate cuts helped buoy stocks in the first quarter. The strength continued, thanks to decent first-quarter 2024 company earnings results thus far as well as investors' hope that above-trend economic growth could offset any negative effects from higher rates. 
The odds of the more concerning recessionary &#8220;hard landing,&#8221; in which the economy slows sharply, have jumped to about 25%-30%, she said.&nbsp;
Larry Tentarelli, Chief Technical Strategist, Blue Chip Daily Trend Report, said a &#8220;no cut scenario&#8221; in 2024 may not be a negative, as long as inflation does not turn up and the economy holds up reasonably well.
&#8220;We believe that the Fed will remain data dependent, meeting to meeting. Unless 12-month core PCE starts to drop meaningfully, to at least 2.40% or less in the next two months than any rate cuts could be delayed, including for all of 2024,&#8221; he said.
&#8220;A caveat here would be the labor market and if jobs start to weaken notably. A very weak jobs market could prompt the Fed to cut, but this is not the case now, with a very strong labor market.&#8221;
Upcoming Economic Data:
<ul>
<li>The Labor Department is due to release its jobless claims report at 8:30 a.m. EDT, with economists, on average, expecting the number of individuals filing for unemployment benefits to come in at 212,000 in the week ended April 25. This compares to the previous reporting week&#8217;s 207,000.</li>
<li>The Labor Department will also release its preliminary first-quarter productivity and costs report around the same time. The consensus estimates call for a 0.5% quarter-over-quarter increase in non-farm productivity and a 4% increase in unit labor costs. This compares to 3.2% and 0.4% growth rates, respectively, for the fourth quarter.</li>
<li>The Commerce Department is scheduled to release its trade balance and factory goods orders data, both for March, at 8:30 a.m. EDT and 10 a.m. EDT, respectively. The trade deficit may have widened to $69.5 billion, up from a deficit of $68.9 billion in February. Factory orders may have increased 1.7% month-over-month, faster than the 1.4% growth in February.</li>
<li>The Treasury will auction four- and eight-week bills at 11:30 a.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures </a>
Stocks In Focus: 
<ul>
<li>Shares of freight &amp; logistics company C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>) climbed over 12% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its quarterly results.</li>
<li>Other shares moving on earnings news are eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>) (down over 3%), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>) (down over 12.50%), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) (down about 2.50%), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) (down over 27%), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>) (down about 4%), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>) (up over 6%), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>) (down over 20%), Monolithic Power Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>) (up over 4%), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) (down over 10%), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>) (up over 3.50%), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>) (up about 10%), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) (down about 9%), DoorDash, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) (down over 12%) and Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>) (down over 6%).</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) and Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market opening.</a></li>
<li>Notable names reporting after the close are Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>) and Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures, which slumped over 3.50% Wednesday following the Fed decision, recovered slightly on Thursday but held below the $80 psychological resistance. After advancing modestly on Wednesday, gold futures reversed course, with an ounce of the yellow metal fetching $2,307.45.
After Wednesday&#8217;s retreat, the 10-year note yield edged up and was around the 4.62% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell below $60,000 but saw a modest recovery early in U.S. premarket hours.
Asian markets, which reopened after Wednesday&#8217;s Labor Day holiday, ended mostly higher, led by the Hong Kong market. The Chinese market remained closed for a second day, in observance of Labor Day. European stocks pulled back in early trading, with the Euros STOXX 50 Index down over 0.40%.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38573665/bitcoin-selloff-just-getting-started-gold-bull-peter-schiff-spots-bearish-technical"> Bitcoin Selloff Just Getting Started? Gold Bull Peter Schiff Spots Bearish Technical Pattern As BTC Drops Below $60K</a>
Photo via Shutterstock.

Nasdaq, S&P 500 Futures Rise Ahead Of Apple Earnings: Why This Analyst Thinks 'No Cut' Scenario May Not Be Negative For Market

Rosenblatt analyst Catharine Trebnick maintains CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) with a Buy and maintains $310 price target.

Rosenblatt Maintains Buy on CyberArk Software, Maintains $310 Price Target

Investors with a lot of money to spend have taken a bullish stance on CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CYBR, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 21 uncommon options trades for CyberArk Software.
This isn't normal.
The overall sentiment of these big-money traders is split between 57% bullish and 38%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $262,053, and 16 are calls, for a total amount of $1,244,856.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $230.0 and $290.0 for CyberArk Software, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for CyberArk Software's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of CyberArk Software's whale trades within a strike price range from $230.0 to $290.0 in the last 30 days. 
<h3>CyberArk Software Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714500945_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CYBR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$11.8</td>
<td>$11.2</td>
<td>$11.8</td>
<td>$260.00</td>
<td>$436.6K</td>
<td>187</td>
<td style="text-align: right;">371</td>
</tr>
<tr>
<td>CYBR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$12.0</td>
<td>$11.7</td>
<td>$12.0</td>
<td>$260.00</td>
<td>$168.0K</td>
<td>187</td>
<td style="text-align: right;">379</td>
</tr>
<tr>
<td>CYBR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$12.3</td>
<td>$12.1</td>
<td>$12.1</td>
<td>$260.00</td>
<td>$137.9K</td>
<td>187</td>
<td style="text-align: right;">745</td>
</tr>
<tr>
<td>CYBR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$11.0</td>
<td>$10.2</td>
<td>$11.0</td>
<td>$290.00</td>
<td>$95.7K</td>
<td>1.3K</td>
<td style="text-align: right;">453</td>
</tr>
<tr>
<td>CYBR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$18.2</td>
<td>$18.0</td>
<td>$18.05</td>
<td>$230.00</td>
<td>$72.3K</td>
<td>338</td>
<td style="text-align: right;">56</td>
</tr>
</tbody>
</table>

<h3>About CyberArk Software</h3>
CyberArk Software Ltd provides Information technology security solutions to protect data, infrastructure, and assets across the enterprise. The company's software solutions are focused on protecting privileged accounts, credentials, and secrets. Its products and services include Privileged Access Manager, Vendor Privileged Access Manager, Privileged Session Manager (PSM), Enterprise Password Vault (EPV), PrivateArk, and Privilege Cloud, among others. Geographically, it generates maximum revenue from the United States and also has a presence in Europe, Middle East and Africa and Other countries.
Having examined the options trading patterns of CyberArk Software, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>CyberArk Software's Current Market Status</h3>
<ul>
<li>Trading volume stands at 298,039, with CYBR's price down by -1.51%, positioned at $239.9.</li>
<li>RSI indicators show the stock to be may be approaching oversold.</li>
<li>Earnings announcement expected in 2 days.</li>
</ul>
<h3>Professional Analyst Ratings for CyberArk Software</h3>
In the last month, 2 experts released ratings on this stock with an average target price of $307.5.
<ul>
<li>Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $300.</li>
<li>An analyst from B of A Securities downgraded its action to Buy with a price target of $315. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for CyberArk Software with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

CyberArk Software's Options: A Look at What the Big Money is Thinking

CyberArk Earns New SOC 2 Type 2, SOC 3 Certifications for Identity Security Platform

Corporate <a href="https://www.benzinga.com/markets/equities/24/04/38471231/strong-quarterly-earnings-fuel-market-optimism-despite-inflation-concerns-slowing-economic-growt">earnings came to the market&#8217;s rescue in the past week,</a> helping to overcome rate fears. As we look ahead to the unfolding week, it remains to be seen whether the tech earnings deluge can keep the rally&#8217;s momentum going. 
The Week That Was: High-profile Magnificent Seven earnings panned out mostly positively for the market, with Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) the outlier. The social media giant&#8217;s stock fell sharply as traders fretted over the soft second-quarter revenue guidance and the company&#8217;s massive AI investment plans. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) managed to appease the Street despite the double miss as it held out the promise of an expeditious launch of a more affordable EV. 
With the earnings season now halfway through, the percentage of S&amp;P 500 companies reporting positive earnings surprises and the magnitude of earnings surprises were above their 10-year averages, <a href="https://insight.factset.com/sp-500-earnings-season-update-april-26-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-04-26-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdateapril262024">said </a>FactSet in a report.
The blended first-quarter earnings growth of S&amp;P 500 companies is estimated at 3.5%, up from the 0.6% growth estimated in the week ended April 19, the financial data analytics firm said. If the trend holds, the S&amp;P 500 companies are on track to report earnings growth for the third straight quarter.
Of the 11 S&amp;P sector classes, eight sectors reported year-over-year earnings growth, led by communication services, utilities, IT, and consumer discretionary sectors. On the other hand, healthcare, energy, and materials have reported year-over-year earnings declines.
See Also: <a href="https://www.benzinga.com/money/best-tech-stocks">Best Tech Stocks Right Now</a>
Look Ahead: The unfolding week will see 175 S&amp;P 500 companies and 6 Dow 30 components releasing their quarterly scorecards. The earnings roster includes two Magnificent Seven companies, namely Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), e-commerce retailers, payment processors, restaurants, and energy and REIT companies.
Earnings from Apple and Amazon could be market-moving, given the weighting of these stocks in the S&amp;P 500 Index. Also, Apple is considered a bellwether, given its exposure to consumers. Morgan Stanley&#8217;s Erik Woodring expects Apple to report a slightly beat but guide June quarter revenue down. 
Investors are likely to keep a close eye on performance in China, Apple&#8217;s updated capital return framework, and capital expenditures, the analyst said.
That said, the analyst is positive on the stock ahead of its annual Worldwide Developers&#8217; Conference due on June 10th. &#8220;With Apple&#8217;s biggest WWDC event on June 10th, we&#8217;d buy post-earnings weakness,&#8221; he said.
Amazon will likely continue to report double-digit sales and profit growth in the first quarter, according to Telsey Advisory Group analyst Joseph Feldman. The analyst premised his optimism on the strength of online spending, gains from expanded merchandise and faster fulfillment, and stabilization (and growth) of AWS. 
&#8220;Importantly, we expect [a] greater focus on profits supported by the growth of higher margin categories and services, such as advertising, media, and AWS (partly helped by AI-related upgrades), the redesigned distribution network&#8230;.. and cost savings,&#8221; he said.
Notable among the <a href="https://www.benzinga.com/calendars/earnings">companies reporting earnings this week</a> are:
Monday 
<ul>
<li>Before the bell: JinkoSolar Holding Co., Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JKS#NYSE">JKS</a>), ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>), Koninklijke Philips N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHG#NYSE">PHG</a>), SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)</li>
<li>After the close: F5, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIV#NASDAQ">FFIV</a>), Everest Group, Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EG#NYSE">EG</a>), NXP Semiconductors N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXPI#NASDAQ">NXPI</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>), Qiagen N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>), Rambus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBS#NASDAQ">RMBS</a>), Sanmina Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SANM#NASDAQ">SANM</a>), Yum China Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUMC#NYSE">YUMC</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), The Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), GE HealthCare Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>), McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), Molson Coors Beverage Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>), Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>)</li>
<li>After the close: Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), ONEOK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>), Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), Unum Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNM#NYSE">UNM</a>). Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Stryker Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), RenaissanceRe Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNR#NYSE">RNR</a>), Prudential Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRU#NYSE">PRU</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), The Clorox Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLX#NYSE">CLX</a>), Chesapeake Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>)</li>
</ul>

Wednesday 
<ul>
<li>Before the bell: Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>), Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>)</li>
<li>After the close: Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: ArcelorMittal S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MT#NYSE">MT</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), CyberArk Software Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Intercontinental Exchange, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), Kimco Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KIM#NYSE">KIM</a>), Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>), PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>), Wayfair Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>), Zoetis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>)</li>
<li>After the close: Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), BigBear.ai Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>), BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>), Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>), Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Consolidated Edison, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ED#NYSE">ED</a>), DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), Five9, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>), Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>), United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), Regency Centers Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REG#NASDAQ">REG</a>), Reinsurance Group of America, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>), Pioneer Natural Resources Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PXD#NYSE">PXD</a>), Opendoor Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NASDAQ">OPEN</a>), Monster Beverage Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>)</li>
</ul>
Friday 
<ul>
<li>Before the bell: American Axle &amp; Manufacturing Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXL#NYSE">AXL</a>), Cboe Global Markets, Inc. (CBOE: CBOE), Fluor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLR#NYSE">FLR</a>), The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>), Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>), XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 0.95% at $508.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 1.54% to $431.
Read Next: <a href="https://www.benzinga.com/news/earnings/earnings-misses/24/04/38464570/us-energy-stocks-fall-following-oil-giants-subdued-earnings-reports">US Energy Stocks Fall Following Oil Giants&#8217; Subdued Earnings Reports</a>

B of A Securities analyst Tal Liani reiterates CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) with a Buy and maintains $315 price target.

B of A Securities Reiterates Buy on CyberArk Software, Maintains $315 Price Target

These new services bolster CyberArk's ability to support the data sovereignty needs of key industries in the region, underscoring CyberArk's ongoing commitment to empower UAE organizations to better protect against growing attacks on human and machine identities.

General

CyberArk Launches UAE-Hosted Identity Security Platform

As the tech sector braces for its upcoming earnings season, Wedbush Securities analyst Daniel Ives provides <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38248780/apple-bull-dan-ives-says-robust-tech-earnings-season-ahead-not-the-time-to-run-time">a bullish outlook</a>.
<h2 class="wp-block-heading">Tech Sell-Off &#8211; A Compelling Buying Opportunity</h2>
He foresees a potential 15% surge in key stocks including Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
Also Read: <a href="https://www.benzinga.com/government/24/04/38245193/openai-launches-first-asian-office-in-tokyo-amid-microsofts-massive-ai-and-cloud-push-in-japan">OpenAI Launches First Asian Office in Tokyo Amid Microsoft&#8217;s Massive AI and Cloud Push in Japan</a>
Ives views the recent risk-off environment and tech sell-off as a compelling buying opportunity, attributing the market downturn to concerns such as a hot Consumer Price Index (CPI), weak bank earnings, and geopolitical tensions. 
Over the past month, the SPDR Technology Select Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) is down 2.63%. The broad market S&amp;P 500 tracking SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) is down 1.16% over the same period.
However, he believes the spotlight will soon shift to the eagerly anticipated tech earnings season, which he expects to be robust across the board.
<h2 class="wp-block-heading">Q1 Earnings To Set The Stage For Upward Momentum In Tech Stocks</h2>
According to Ives, the anticipated strength in tech stocks isn&#8217;t solely based on multiples but stems from accelerating growth and earnings, surpassing Street expectations. He emphasizes the pivotal role of the upcoming Q1 earnings season in setting the stage for further upward momentum in the tech sector throughout the year.
Here&#8217;s a glimpse of when these promising tech companies are scheduled to report earnings:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Stock Ticker</td>
<td>Quarter</td>
<td>Earnings Date</td>
</tr>
<tr>
<td>Microsoft</td>
<td>MSFT</td>
<td>Q3</td>
<td>April 25</td>
</tr>
<tr>
<td>Alphabet</td>
<td>GOOG, GOOGL</td>
<td>Q1</td>
<td>April 26</td>
</tr>
<tr>
<td>Amazon</td>
<td>AMZN</td>
<td>Q1</td>
<td>April 29</td>
</tr>
<tr>
<td>Palantir</td>
<td>PLTR</td>
<td>Q1</td>
<td>May 6</td>
</tr>
<tr>
<td>Meta Platforms</td>
<td>META</td>
<td>Q1</td>
<td>April 24</td>
</tr>
</tbody>
</table>
</figure>
Source: <a href="https://www.benzinga.com/calendars/earnings">Benzinga Earnings Calendar</a>
Expectations are high for standout performances from tech giants such as Microsoft, Alphabet, Amazon, Palantir, and Meta. Sectors like software, cybersecurity, digital advertising, and semiconductors, should get particular attention, per Ives.
<h2 class="wp-block-heading">Other Potential Standouts</h2>
Ives also highlights cybersecurity firms like Zscaler Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>), CrowdStrike Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>), Palo Alto Networks Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>), CyberArk Software Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), Check Point Software Technologies Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHKP#NASDAQ">CHKP</a>), and Tenable Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENB#NASDAQ">TENB</a>) as potential standouts in the upcoming earnings reports.
Confidence in the potential of the AI Revolution to drive growth is bolstered by field checks conducted globally over the past month, indicating that monetization in this realm has entered a new phase of accelerated growth.
As investors await the earnings reports, the tech sector remains poised for further appreciation, with Ives projecting a 15% increase in tech stocks for the year.
With software, cybersecurity, digital advertising, and semiconductors taking center stage, the upcoming earnings season could mark a significant milestone in reaffirming the tech sector&#8217;s growth trajectory for the remainder of 2024.
Read Next: <a href="https://www.benzinga.com/news/24/04/38241504/metas-move-to-block-news-erodes-signals-of-reliability-as-right-wing-memes-thrive-on-canadian-facebo">Meta&#8217;s Move To Block News Erodes &#8216;Signals Of Reliability&#8217; As Right-Wing Memes Thrive On Canadian Facebook: Report</a>
Image generated using artificial intelligence via Midjourney.

Analyst Color

Long Ideas

Tech

CHKP

CRWD

GOOG

GOOGL

MSFT

PANW

PLTR

TENB

Why Microsoft, Alphabet, Amazon, Palantir, And Meta Could Rise 15% In 2024, According To Analyst

CyberArk Software (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>) has outperformed the market over the past 5 years by 2.97% on an annualized basis producing an average annual return of 15.12%. Currently, CyberArk Software has a market capitalization of $10.49 billion. 
Buying $100 In CYBR: If an investor had bought $100 of CYBR stock 5 years ago, it would be worth $209.42 today based on a price of $247.99 for CYBR at the time of writing.
<h3>CyberArk Software's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713189639_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning CyberArk Software Stock In The Last 5 Years

Market strategist Matt Orton has identified two under-the-radar U.S. small-cap companies that he believes have significant potential for growth.
What Happened: Orton, who serves as the chief market strategist at Raymond James Investment Management, expressed his optimism about small-cap stocks in 2024. He believes that these stocks are on the verge of a significant breakthrough, <a href="https://www.cnbc.com/2024/04/02/strategist-names-under-the-radar-us-small-cap-names-to-play.html">reported</a> CNBC from an interview on &#8220;Squawk Box Asia."
"I have been optimistic around small-caps this year, and it looks like we could be on the verge of an even bigger breakout," Orton said.
Despite a challenging start to the year, the Russell 2000, the small-cap stock benchmark, has seen a 5.2% increase year-to-date. Orton pointed out that the index is still over 13% off its all-time high from 2021.
Orton highlighted two U.S. small-cap companies, Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) and Cyberark Software Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYBR#NASDAQ">CYBR</a>), as particularly appealing investment opportunities.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/38016366/bitcoin-ethereum-dogecoin-spike-marking-an-end-to-bullish-q1-2024-analyst-says-king-crypto?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Spike Marking An End To Bullish Q1 2024 — Analyst Says King Crypto Could Ascend To $75K Mark If It Breaches Neckline Resistance</a>
Vertiv Holdings, a provider of cooling equipment and power management products for data centers, is expected to experience an increase in demand as more high-heat generating chips enter the market. Despite a 471% increase in its stock over the past 12 months, Orton remains confident in the company&#8217;s potential for growth.
Meanwhile, CyberArk, an information security company, is seen as a strong player in the cybersecurity sector. Orton believes that as AI continues to develop, there will be a rise in cyber threats and attacks, creating opportunities for companies like CyberArk. The company&#8217;s stock has seen an 80% increase over the past year.
Why It Matters: Orton&#8217;s picks come at a time when the stock market is experiencing a mix of optimism and caution. The first quarter of 2024 saw a robust performance, with experts predicting a potentially &#8220;f<a href="https://www.benzinga.com/news/24/03/37927079/stock-markets-frightful-yet-fulfilling-q1-performance-what-does-it-mean-for-the-rest-of-2024">rightful yet fulfilling</a>&#8221; year-end. This has led to various predictions and warnings, such as that of JPMorgan&#8217;s chief global equity strategist, Dubravko Lakos-Bujas, who warned of a potential &#8220;<a href="https://www.benzinga.com/markets/equities/24/03/37975315/jpmorgans-chief-global-equity-strategist-warns-of-out-of-the-blue-stock-market-shock-it-just-mig">out-of-the-blue</a>&#8221; stock market shock.
On the other hand, Goldman Sachs has predicted <a href="https://www.benzinga.com/markets/equities/24/03/37927561/goldman-sachs-predicts-15-upside-for-s-p-500-ai-boom-could-drive-market-to-6-000">a 15% upside for the S&amp;P 500</a>, driven by the exceptional performance of mega-cap tech stocks. Against this backdrop, Orton&#8217;s focus on under-the-radar small-cap companies suggests a nuanced approach to navigating the current market conditions.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/38014531/dogecoin-set-to-surge-over-200-says-crypto-analyst-its-going-to-do-something-insane-this-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Set to Surge Over 200%, Says Crypto Analyst: &#8216;It&#8217;s Going To Do Something Insane This Cycle&#8217;</a>
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Top 2 Small-Cap US Stocks To Watch According To Market Strategist Matt Orton

There's a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on CyberArk Software (CYBR – Research Report), Five9 (F...

Analysts Are Bullish on These Technology Stocks: CyberArk Software (CYBR), Five9 (FIVN)

There's a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Intapp (INTA – Research Report), MongoDB (MDB – Rese...

Analysts' Top Technology Picks: Intapp (INTA), MongoDB (MDB)

In a report released today, Junaid Siddiqui from Truist Financial reiterated a Buy rating on CyberArk Software (CYBR – Research Report). The compan...

CyberArk Software (CYBR) Receives a Buy from Truist Financial

Analysts have been eager to weigh in on the Technology sector with new ratings on Itron (ITRI – Research Report), CyberArk Software (CYBR – Researc...

Analysts Offer Insights on Technology Companies: Itron (ITRI), CyberArk Software (CYBR) and MagnaChip (MX)

In a report released today, Daniel Ives from Wedbush maintained a Buy rating on CyberArk Software (CYBR – Research Report), with a price target of ...

CyberArk Software (CYBR) Receives a Buy from Wedbush

D.A. Davidson analyst Rudy Kessinger maintained a Buy rating on CyberArk Software (CYBR – Research Report) today and set a price target of $275.00....

CyberArk Software (CYBR) Receives a Buy from D.A. Davidson

We track 7 AI categories; here we highlight those stocks in each category that went up or down by 5% or more during the week.

The 7 AI Categories Declined, On Average, The First Week Of May

Cybersecurity conference likely to reveal consolidation, AI integration

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
While conventional wisdom calls for selling securities, these best Nasdaq stocks may require a complete rethink. With the possibility that the Federal Reserve might get its soft landing after all, risk-on sentiment has returned on Wall Street.



Previously, the combination of consistently robust jobs reports and soaring energy prices meant that the central bank would likely have been forced to shift its policy. Rather than cutting interest rates, the Fed appeared to be on course to raise them. However, with the April employment picture coming in lower than expected, policymakers may have the flexibility to reduce rates as planned.



If so, now may be the time to be acquisitive. In that case, these are possibly the best Nasdaq stocks to buy.



<h2>CyberArk Software (CYBR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/cybr-stock-1-300x169.jpg" alt="Cyberark (CYBR) logo on a corporate building"><div>Source: photobyphm / Shutterstock.com</div></div>Based in Israel, CyberArk Software (NASDAQ:<a href="https://investorplace.com/stock-quotes/cybr-stock-quote/">CYBR</a>) develops, markets and sells software-based identity security solutions and services in the U.S. and multiple international markets. It offers myriad relevancies, particularly in the area of endpoint access management and multi-factor authentication. Given the extraordinary damages that can stem from unauthorized access, this arena should see increased demand.



Operationally, one of CyberArk&rsquo;s top attributes is its top-line expansion. Over the past three years, its <a href="https://www.gurufocus.com/stock/CYBR/summary?search=cybr">revenue growth rate</a> came in at 14.5%. That&rsquo;s above 64.25% of its peers. Further, its free cash flow (<a href="https://investorplace.com/stock-quotes/fcf-stock-quote/">FCF</a>) margin stands at 14.04%, ranked better than 82% of the competition.



For the current fiscal year, covering analysts are looking for earnings per share of $2. That&rsquo;s a big leap from last year&rsquo;s result of $1.12. Further, sales could land $934.21 million or 24.2% above 2023&rsquo;s tally of $751.89 million. In the following year, revenue could rise to $1.14 billion, up 22.4% from projected 2024 sales.



With the relevance and forecasted top-line growth, CYBR makes for one of the best Nasdaq stocks to buy.



<h2>ACM Research (ACMR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/acmr-stock-1-300x169.jpg" alt="a magnifying glass enlarges the ACM logo on a website"><div>Source: Pavel Kapysh / Shutterstock.com</div></div>Headquartered in Fremont, California, ACM Research (NASDAQ:<a href="https://investorplace.com/stock-quotes/acmr-stock-quote/">ACMR</a>) operates under the semiconductor equipment and materials category. <a href="https://finance.yahoo.com/quote/ACMR/profile">Per its public profile</a>, ACM develops, manufactures and distributes single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. While it&rsquo;s not the most exciting tech player, it offers critical services that keep the ecosystem running smoothly.



Unsurprisingly, ACM enjoys <a href="https://www.gurufocus.com/stock/ACMR/summary?search=acmr">robust operational metrics</a>. Its three-year revenue growth rate clocks in at 51.7%, above 94.37% of its peers. During the same period, its EBITDA growth rate hit a whopping 80%. Nevertheless, ACMR trades at only 17.15X forward earnings. In contrast, the sector median comes in at 25.06X.



Notably, for fiscal 2024, the high-side EPS target calls for $1.80. Last year, earnings reached $1.63 per share. However, the spotlight may be on the top line, with sales projected to hit $699.36 million on average. That&rsquo;s up 25.4% from last year&rsquo;s print of $557.72 million. Also, the blue-sky sales target calls for $731.35 million.



With ongoing relevancy forecasted, ACMR ranks among the best Nasdaq stocks to buy.



<h2>Rhythm Pharmaceuticals (RYTM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/drug_stocks1600-300x169.jpg" alt="dollar sign written with pills spilled from a medicine bottle. millionaire maker drug stocks"><div>Source: Shutterstock</div></div>Hailing from Boston, Massachusetts, Rhythm Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/rytm-stock-quote/">RYTM</a>) is a commercial-stage biopharmaceutical company focusing on rare neuroendocrine diseases. It features multiple therapeutics in various stages of clinical trials focused on complex obesity-related conditions. Since the start of the year, shares lost about 3% of equity value. However, the bulls have been driving shares higher in recent sessions.



Operationally, it&rsquo;s not the most remarkable enterprise. For example, its three-year EBITDA growth rate comes in at 1.1%. That&rsquo;s a bit off from the sector median value of 6%. However, it does command a strong balance sheet, with a cash-to-debt ratio of nearly 219X. In contrast, the sector median is only 6.54X.



For fiscal 2024, analysts are looking for revenue to reach $131.61 million. If so, that would represent a gargantuan gain of 70% from last year&rsquo;s result of $77.43 million. Further, the blue-sky sales target is $137.78 million.



By the following year, consensus sales targets $206.2 million, with a high-side estimate of $298.46 million. While RYTM is speculative, if the stars align, it could be one of the best Nasdaq stocks to buy.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/the-3-best-nasdaq-stocks-to-buy-in-may-2024/">The 3 Best Nasdaq Stocks to Buy in May 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 3 Best Nasdaq Stocks to Buy in May 2024

There's a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Freshworks (FRSH – Research Report) and CyberArk Sof...

Analysts Are Bullish on Top Technology Stocks: Freshworks (FRSH), CyberArk Software (CYBR)

ACMR

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Press Releases

CyberArk Achieves FedRAMP® High Authorization

CyberArk Named a Workforce Identity Platforms Leader by Independent Research Firm

CyberArk Launches Industry's First Identity-Centric Secure Browser

New CyberArk Managed Service Provider Console Makes It Easy for MSPs to Offer Identity Security Services at Scale

CyberArk to Announce First Quarter 2024 Financial Results on May 2

CyberArk Launches UAE-Hosted Identity Security Platform to Help Secure Identities and Meet Data Sovereignty Requirements

CyberArk Announces Strong First Quarter 2024 Results

FM Logistic Chooses the CyberArk Identity Security Platform to Secure Its Digital Transformation and Help Bolster Supply Chain Resilience