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Israeli Company Cyberark Surges 16% in Two Days: What Influence Did they Have on Wall Street Over the Weekend?

Wall Street ended the week with a record in the S&P 500 index, surpassing the 5,000 point mark for the first time. The NASDAQ index also strengthened by 1.5%, while the Dow Jones index traded in a minor decline. Among Israeli companies listed on Wall Street, Cyberark stood out with its remarkable performance.

Cyberark’s stock jumped an impressive 15.7% in just two trading days, reaching a record value of $11.8 billion and becoming the fifth largest Israeli company on Wall Street after Mobileye, Check Point, Nice and Teva. This growth was due to strong financial reports that exceeded analysts’ expectations in both revenue and profit lines. In Q4, revenues grew by 31.9% to $223 million compared to analysts’ forecasts of $210 million, with annual revenues growing by 27% to $752 million dollars.

According to generally accepted accounting rules (GAAP), Cyberark recorded a net profit of $8.9 million in Q4 and $38.1 million on a Non-GAAP basis, which is equivalent to 81 cents per share – higher than analysts expected of only 47 cents per share. For Q1 2023, Cyberark expects revenues between $209-215 million dollars and a Non-GAAP net profit per share between 21-31 cents – both above analysts’ forecasts of $24 cents per share and similar to their predictions for Onds shares on Nasdaq ($1.63-$1.81 dollars).

On the other hand, Onds announced plans to delist from trading on Tel Aviv Stock Exchange where it has been trading since completing an acquisition of Israeli Aerobotics last year due to poor performance since then with its shares falling by 31%. Stixspay experienced significant growth as well with its stock jumping by 17% over two days after receiving approval from NYSE management for a plan to meet requirements again until May 20

By Editor

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