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

The week on Wall Street ended with a record in the S&P 500 index, which surpassed the 5,000 point mark for the first time after rising 0.6% in the last two trading days of the week. The NASDAQ index strengthened by 1.5%, while the Dow Jones index traded in a minor decline. Cyberark, an Israeli cyber security company, led the way among Israeli companies traded on Wall Street, with its stock jumping 15.7% in the last two trading days of the week and adding $1.6 billion to its value.

Cyberark published reports last Thursday that surpassed analysts’ forecasts both in revenue and profit lines, with revenues growing by 31.9% to $223 million and net profit per share of 8.9 million dollars on a GAAP basis and 38.1 million dollars on a non-GAAP basis, which is higher than expected by analysts. In addition to this, Cyberark also provided positive forecasts for the first quarter and 2024 with revenues expected to be between $209-215 million and net profit per share between $21-31 cents respectively, which is higher than analysts’ forecasts of $24 cents per share for net profit per share in Q1 and $1 dollar respectively for net profit per share in 2024.

Onds announced its intention to delist from trading on the Tel Aviv Stock Exchange where it has been listed since completing an acquisition of Israeli Aerobotics last year due to falling stock prices despite being simultaneously listed on Nasdaq where it rose over the weekend by 8.4%. Stixspay jumped 17% over two trading days due to positive business and technology developments that are expected in future reports of new customers and new orders leading to an increase in market value despite its stock price still standing at less than one dollar or $43 cents reflecting a value of $35 million managed by Nir Barkan.

By Editor

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