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

Record Highs on Wall Street: S&P 500 Surpasses 5,000 Points and Cyberark Stock Soars

Wall Street ended the week with a record in the S&P 500 index, which surpassed the 5,000-point mark for the first time. The NASDAQ index strengthened by 1.5%, while the Dow Jones index traded in a minor decline. Several Israeli companies were also active on Wall Street during this time.

One of the standout performers 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 cybersecurity company is now trading at a record value of $11.8 billion and is the fifth largest Israeli company on Wall Street after Mobileye, Check Point, Nice and Teva. Cyberark published reports last Thursday that exceeded analysts’ forecasts both in revenue and profit lines, and provided a positive outlook for the first quarter and 2024. Revenues grew by 31.9% in the fourth quarter to $223 million compared to analysts’ forecasts of $210 million, with an annual revenue growth of 27% to $752 million dollars. The net profit per share on a Non-GAAP basis was recorded at 81 cents, higher than expected by analysts who predicted only 47 cents.

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. Onds shares are simultaneously traded on Nasdaq, where they rose by 8.4% over the weekend to a price of $1.42 reflecting market value of $88 million dollars since it began trading on Tel Aviv Stock Exchange last January they fell by about 31%.

In addition Stixspay jumped 17% over two days after receiving permission from NYSE management to implement a plan that will allow them back onto NYSE American list after being warned they did not meet certain conditions . The company will continue trading until May 20th, 2025 . It is involved in technology for satellite communications and anticipates future positive reports of new customers and new orders that will lead to higher market value even after jump its stock price is less than one dollar at stands at 43 cents reflects market valuation of around $35 million dollars managed by Nir Barkan

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