CyberArk Software (NASDAQ:CYBR) Issues FY24 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $1.88-2.07 for the period, compared to the consensus EPS estimate of $1.76. The company issued revenue guidance of $928-938 million, compared to the consensus revenue estimate of $927.27 million. CyberArk Software also updated its Q2 guidance to $0.34-0.44 EPS.

CyberArk Software Price Performance

Shares of CYBR traded down $6.22 during mid-day trading on Friday, reaching $227.32. 768,897 shares of the company were exchanged, compared to its average volume of 461,485. The business has a 50 day simple moving average of $254.41 and a two-hundred day simple moving average of $226.27. CyberArk Software has a 52 week low of $125.15 and a 52 week high of $283.00.

CyberArk Software (NASDAQ:CYBR) last announced its 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 business had revenue of $223.10 million during the quarter, compared to the consensus estimate of $209.65 million. CyberArk Software had a negative net margin of 3.20% and a negative return on equity of 2.59%. As a group, equities research analysts anticipate that CyberArk Software will post -1.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JMP Securities raised their price objective on CyberArk Software from $195.00 to $280.00 and gave the company a market outperform rating in a research note on Wednesday, January 31st. UBS Group upped their price objective on shares of CyberArk Software from $215.00 to $260.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Wedbush reissued an outperform rating and set a $285.00 target price on shares of CyberArk Software in a research report on Friday. Oppenheimer lifted their price target on CyberArk Software from $195.00 to $260.00 and gave the company an outperform rating in a research note on Monday, January 8th. Finally, Mizuho raised their target price on CyberArk Software from $250.00 to $310.00 and gave the company a buy rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $265.63.

CyberArk Software Company Profile

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.