CyberArk Software (NASDAQ:CYBR) Releases Q4 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.65-$0.75 for the period, compared to the consensus estimate of $0.55. The company issued revenue guidance of $297-$303 million, compared to the consensus revenue estimate of $259.67 million. CyberArk Software also updated its FY 2024 guidance to 2.850-2.960 EPS.

CyberArk Software Price Performance

Shares of CYBR opened at $301.28 on Friday. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 1,115.89 and a beta of 1.13. CyberArk Software has a 1 year low of $183.28 and a 1 year high of $318.16. The business’s 50 day simple moving average is $283.62 and its 200-day simple moving average is $266.42.

Analyst Ratings Changes

Several research firms have commented on CYBR. Needham & Company LLC reiterated a “buy” rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Friday, August 9th. Wedbush lifted their price objective on shares of CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Piper Sandler raised their target price on shares of CyberArk Software from $300.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday. Truist Financial reiterated a “buy” rating and set a $350.00 price target (up from $300.00) on shares of CyberArk Software in a report on Thursday. Finally, Susquehanna raised their price objective on shares of CyberArk Software from $320.00 to $345.00 and gave the stock a “positive” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to MarketBeat, CyberArk Software has a consensus rating of “Moderate Buy” and a consensus target price of $328.37.

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.