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. In addition, the NASDAQ index strengthened by 1.5% and the Dow Jones index traded in a minor decline. There were several prominent Israeli stocks on Wall Street that contributed to this growth.

Cyberark was one of these companies, with its stock jumping 15.7% in the last two trading days of the week. The cyber security company added $1.6 billion to its value and is now trading at a record value of 11.8 billion dollars, making it the fifth largest Israeli company on Wall Street after Mobileye, Check Point, Nice and Teva. Cyberark published reports last Thursday that surpassed analysts’ forecasts both in revenue and profit lines, with revenues growing by 31.9% to $223 million compared to analysts’ forecast of $210 million. The net profit in the quarter was recorded at 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.

Onds also made headlines as it announced its intention to be delisted from trading on the Tel Aviv Stock Exchange where it has been listed since completing an acquisition of Israeli Aerobotics last year. Onds shares have fallen by 31.5% since they began trading on the Tel Aviv Stock Exchange last January despite rising by 8.4% over the weekend to $1.42 and reflecting a market value of $88 million on Nasdaq where they are also listed simultaneously

By Editor

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