CyberArk Software, Ltd. CYBR is set to report first-quarter 2016 results on May 5. Last quarter, the company posted a positive earnings surprise of 76.47%. Notably, this cyber security solution provider has surpassed the Zacks Consensus Estimate in all the preceding four quarters with an average beat of $186.62%.Let’s see how things are shaping up for this announcement.Factors to ConsiderCyberArk is an Israeli company that specializes in protecting accounts from cyber-attacks. The company offers several products that protect passwords, close loopholes in security systems, and secure cloud-based assets.It is worth noting that CyberArk had delivered strong fourth-quarter 2015 results. Adjusted earnings of 30 cents per share comfortably beat the Zacks Consensus Estimate of 17 cents, while revenues of $51.5 million exceeded our estimate of $44 million.The company stated that a strong network security market had helped them win a large number of deals and expand customer base, which contributed to its tremendous growth.We are encouraged by CyberArk’s sustained focus on offering industry-leading solutions and go-to-market business model.Furthermore, demand for cyber security is on the rise. With the advancement in technology, more organizations are adopting a bring-your-own-device policy, which has enhanced employee productivity with anytime, anywhere access, but made it all the more necessary to enforce stricter data security measures.According to the research firm, Markets and Markets, the cyber security space is expected to reach $170.21 billion by 2020 from $106.32 billion in 2015, growing at an annual rate of 9.8%. We believe that CyberArk Software is in a favorable position to tap the opportunities.Earnings WhispersOur proven model does not conclusively show that CyberArk Software is likely to beat earnings this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. That is not the case here, as you will see below.Zacks ESP: Both the Most Accurate estimate and the Zacks Consensus Estimate stand at 10 cents. Hence, the difference is 0.00%.Zacks Rank: CyberArk Software’s Zacks Rank #3 when combined with a 0.00% ESP makes surprise prediction difficult.Note that, we caution against stocks with a Zacks Rank #4 or #5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.Stocks to ConsiderHere are a few companies worth considering which, per our model, have the right combination of elements to post an earnings beat this quarter:Synopsys Inc. SNPS has an Earnings ESP of +6.38% and a Zacks Rank #1.Benefitfocus Inc. BNFT has an Earnings ESP of +4.00% and a Zacks Rank #2.Microchip Technology Inc. MCHP has an Earnings ESP of +3.33% and a Zacks Rank #2.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CYBER-ARK SFTWR (CYBR): Free Stock Analysis Report SYNOPSYS INC (SNPS): Free Stock Analysis Report MICROCHIP TECH (MCHP): Free Stock Analysis Report BENEFITFOCUS (BNFT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research