• Sat. Feb 24th, 2024

New Heights for S&P 500 as Cyberark Soars to Record Valuation; Onds Announces Delisting from Tel Aviv Stock Exchange

ByEditor

Feb 11, 2024
Israeli Company Cyberark Surges 16% in Two Days: What Influence Did they Have on Wall Street Over the Weekend?

The trading week on Wall Street ended with a record in the S&P 500 index, surpassing 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. There were several Israeli companies traded on Wall Street that performed exceptionally well during this period.

Among them was Cyberark, which jumped 15.7% in the last two trading days of the week and added $1.6 billion to its value. Its stock price now stands at a record value of 11.8 billion dollars and is fifth largest Israeli company on Wall Street after Mobileye, Check Point, Nice and Teva. Cyberark reported better-than-expected revenues and profits in its quarterly report published last Thursday, with net profit of 8.9 million dollars on a GAAP basis and 38.1 million dollars on a Non-GAAP basis per share, exceeding analysts’ expectations by about 4 cents per share.

In contrast to Cyberark’s success, 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. Its stock price has fallen by over 31% since it began trading on the exchange last January despite rising by 8.4% over the weekend to $1

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