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

The week ended on Wall Street 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. Meanwhile, the NASDAQ index strengthened by 1.5%, while the Dow Jones index traded in a minor decline. Several Israeli companies traded on Wall Street had notable performances during this period.

Among them was Cyberark, whose stock jumped 15.7% in the last two trading days of the week and added $1.6 billion to its value. The company, founded by active chairman Udi Mokdi and currently managed by Matt Cohen, is now trading at a record value of 11.8 billion dollars and is the fifth largest Israeli company on Wall Street, after Mobileye, Check Point, Nice and Teva. In addition to its strong performance in terms of stock price, Cyberark also exceeded analysts’ forecasts both in revenue and profit lines in its latest report published last Thursday. Revenues grew by 31.9% to $223 million compared to analysts’ forecast of $210 million, while net profit was recorded at 8.9 million dollars on a GAAP basis and 38.1 million dollars on a Non-GAAP basis per share, higher than analysts’ expectations of only 47 cents per share.

Another American technology company Onds announced its intention to be delisted from trading on the Tel Aviv Stock Exchange where it has been traded since completing an acquisition of Israeli Aerobotics last year. Ondes shares are simultaneously traded on Nasdaq and rose by 8.4% to $1.42 over the weekend reflecting a market value of $88 million even after falling by 31

By Editor

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