CyberArk Software (NASDAQ:CYBR) Releases Q2 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its second quarter earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group increased their price target on shares of CyberArk Software from $215.00 to $260.00 and gave the company a buy rating in a research report on Wednesday, January 10th. BTIG Research began coverage on CyberArk Software in a research report on Thursday, March 28th. They issued a buy rating and a $317.00 price objective for the company. Cantor Fitzgerald reaffirmed an overweight rating and set a $300.00 target price on shares of CyberArk Software in a research report on Friday. KeyCorp boosted their price target on CyberArk Software from $274.00 to $305.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Finally, JMP Securities upped their price target on shares of 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 investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $265.63.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR traded down $6.22 on Friday, reaching $227.32. The company’s stock had a trading volume of 768,897 shares, compared to its average volume of 461,485. CyberArk Software has a 52-week low of $125.15 and a 52-week high of $283.00. The stock’s 50-day moving average is $254.41 and its two-hundred day moving average is $226.27.

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