The trading week on Wall Street ended on a high note, with the S&P 500 index surpassing the 5,000 point mark for the first time. Cyberark, an Israeli cyber security company listed on Wall Street, was one of the standout performers in the week. Its stock jumped by 15.7% in two days and added $1.6 billion to its value.
Cyberark published strong quarterly reports that exceeded analysts’ forecasts both in revenue and profit lines. Revenues in the fourth quarter grew by 31.9% to $223 million compared to analysts’ expectations of $210 million, while net profit per share was recorded at 8.9 million dollars on a GAAP basis and 38.1 million dollars on a non-GAAP basis, which is higher than expected by analysts.
In addition to Cyberark, Stixspay, an American technology company dealing with satellite communications, also had a strong performance in the week. Its stock jumped by 17% after receiving permission from the New York Stock Exchange to implement a plan to meet its trading conditions again until May 2025. Despite this increase in stock price, Stixspay’s stock still stands at less than one dollar and reflects a value of only $35 million for the company managed by Nir Barkan.
On the other hand, Ondes, another American technology company listed on Wall Street and traded on Tel Aviv Stock Exchange since completing an acquisition of Israeli Aerobotics last year announced its intention to be delisted from trading on Tel Aviv Stock Exchange effective May 9th . Ondes shares are simultaneously traded on Nasdaq where it rose by 8.4% over weekend reflecting market value of $88 million but have fallen by 31.5% since it began trading on Tel Aviv Stock Exchange last January .