• Sat. Feb 24th, 2024

Record Breakers and Mergers: Wall Street’s Performance Highlights and Lowlights for the Week

ByEditor

Feb 11, 2024
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. The NASDAQ index strengthened by 1.5%, while the Dow Jones index traded in a minor decline. Among the Israeli companies traded on Wall Street, Cyberark stood out with its impressive performance.

Cyberark’s stock jumped 15.7% in the last two trading days of the week and added $1.6 billion to its value, reaching a new record of $11.8 billion dollars. It is now the fifth largest Israeli company on Wall Street, after Mobileye, Check Point, Nice and Teva. The company published strong reports last Thursday that surpassed analysts’ forecasts both in revenue and profit lines and provided a positive outlook for the first quarter and 2024. Revenues in the fourth quarter grew by 31.9% to $223 million compared to analysts’ forecast of $210 million, while net profit per share was recorded at 89 cents, higher than expected by analysts who had forecast only 47 cents per share on a Non-GAAP basis.

In contrast to Cyberark’s success, Onds announced its intention to be delisted from trading on the Tel Aviv Stock Exchange after it has been listed there since completing an acquisition of Israeli Aerobotics last year. Onds shares have fallen by 31.5% since they began trading on the exchange last January despite rising by 8.4% over the weekend to $1.42 per share reflecting a market value of $88 million dollars

Stixspay also experienced significant growth as its stock jumped by 17% on Thursday and Friday due to technological developments it anticipates such as future positive reports from new customers and orders that will lead to higher market value although its stock price is still less than one dollar at 43 cents per share reflecting a value of $35 million dollars managed by Nir Barkan . Despite this growth Stixspay was merged into a SPAC in 2022 at a value of $365 million

Leave a Reply