CyberArk Software (NASDAQ:CYBR) Issues FY24 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.88-2.07 for the period, compared to the consensus 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 Trading Down 2.7 %

CYBR traded down $6.22 on Friday, reaching $227.32. 768,897 shares of the company traded hands, compared to its average volume of 461,485. The firm has a fifty day simple moving average of $254.41 and a two-hundred day simple moving average of $226.27. CyberArk Software has a one year low of $125.15 and a one year high of $283.00.

CyberArk Software (NASDAQ:CYBR) last announced its quarterly earnings data on Thursday, February 8th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.53. The company had revenue of $223.10 million for 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, research analysts expect that CyberArk Software will post -1.46 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on CYBR. Morgan Stanley lowered shares of CyberArk Software from an overweight rating to an equal weight rating and lifted their price objective for the company from $195.00 to $240.00 in a report on Tuesday, January 9th. Bank of America reissued a buy rating and issued a $315.00 price target on shares of CyberArk Software in a research report on Wednesday, April 24th. UBS Group boosted their target price 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. Truist Financial lifted their price objective on shares of CyberArk Software from $250.00 to $300.00 and gave the stock a buy rating in a research report on Friday, February 9th. Finally, BTIG Research initiated coverage on shares of CyberArk Software in a research note on Thursday, March 28th. They issued a buy rating and a $317.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, CyberArk Software currently has an average rating of Moderate Buy and a consensus target price 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.