CyberArk Software (NASDAQ:CYBR) Updates Q2 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.34-0.44 for the period, compared to the consensus earnings per share 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

Several research analysts recently weighed in on the company. Needham & Company LLC reissued a buy rating and set a $310.00 price target on shares of CyberArk Software in a research report on Friday. Rosenblatt Securities reiterated a buy rating and set a $310.00 price objective on shares of CyberArk Software in a report on Wednesday. Wells Fargo & Company boosted their target price on CyberArk Software from $250.00 to $275.00 and gave the company an overweight rating in a research note on Monday, January 29th. Morgan Stanley downgraded CyberArk Software from an overweight rating to an equal weight rating and raised their price target for the stock from $195.00 to $240.00 in a research note on Tuesday, January 9th. Finally, JMP Securities boosted their price target 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. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $265.63.

CyberArk Software Trading Down 2.7 %

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

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

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.