CyberArk Software (NASDAQ:CYBR) Releases Q2 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.34-0.44 for the period, compared to the consensus estimate of $0.30. The company issued revenue guidance of $215-221 million, compared to the consensus revenue estimate of $221.22 million. CyberArk Software also updated its FY24 guidance to $1.88-2.07 EPS.

Analyst Ratings Changes

CYBR has been the subject of several research reports. Rosenblatt Securities reaffirmed a buy rating and set a $310.00 price target on shares of CyberArk Software in a research note on Wednesday. Cantor Fitzgerald restated an overweight rating and set a $300.00 target price on shares of CyberArk Software in a research report on Friday. Wells Fargo & Company lifted their target price on shares of CyberArk Software from $250.00 to $275.00 and gave the stock an overweight rating in a research note on Monday, January 29th. DA Davidson reduced their price target on CyberArk Software from $300.00 to $275.00 and set a buy rating on the stock in a research note on Friday. Finally, UBS Group raised their price objective on CyberArk Software from $215.00 to $260.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $265.63.

CyberArk Software Price Performance

Shares of NASDAQ CYBR traded down $6.22 on Friday, hitting $227.32. The company had a trading volume of 768,897 shares, compared to its average volume of 461,485. CyberArk Software has a 12-month low of $125.15 and a 12-month high of $283.00. The business has a 50 day moving average of $254.41 and a two-hundred day moving average of $226.27.

CyberArk Software (NASDAQ:CYBR) last released its quarterly earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.53. The firm had revenue of $223.10 million during the quarter, compared to analysts’ expectations of $209.65 million. CyberArk Software had a negative return on equity of 2.59% and a negative net margin of 3.20%. On average, equities analysts anticipate that CyberArk Software will post -1.46 EPS for the current fiscal year.

About CyberArk Software

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sells software-based identity security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager, which offers risk-based credential security and session; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide secure access to third-party vendors; Dynamic Privileged Access, a SaaS solution that provides just-in-time access to Linux Virtual Machines; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Secure Desktop, a solution that protects access to endpoints.