Wall Street’s trading week ended with a bang as the S&P 500 index surpassed the 5,000 point mark for the first time, rising 0.6% in just two days. Meanwhile, the NASDAQ index strengthened by 1.5%, while the Dow Jones index traded in a minor decline. The Israeli companies on Wall Street also had their fair share of successes and failures during this week.
One of the biggest winners was Cyberark, whose stock jumped 15.7% in just two trading days and added $1.6 billion to its value. The cybersecurity company, founded by Udi Mokdi and currently led 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 its latest report last Thursday, Cyberark exceeded analysts’ forecasts both in revenue and profit lines. Revenues grew by 31.9% to $223 million compared to analysts’ forecasts of $210 million, while net profit came in at 8.9 million dollars on a GAAP basis or 38 cents per share on a non-GAAP basis, which was significantly higher than analysts expected (47 cents).
Looking ahead to the first quarter and beyond, Cyberark expects revenues to range between $209-$215 million (higher than analysts’ forecast) with a non-GAAP net profit per share of between 21-31 cents (similar to analysts’ expectations). In five years from now, revenues are projected to grow by about 23% to $920-$930 million dollars with a net profit per share of around $1.63-$1.81 dollars (also higher than analysts’ projections).
Another American technology company 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. Ondes shares will be delisted on May 9th after falling by over 31% since trading began there in January despite rising by about 8% over the weekend reflecting market value of $88 million dollars on Nasdaq platform only . The company provides technological solutions for communication and information analysis for government and industrial clients under management from Eric Brock .