CyberArk Software (NASDAQ:CYBR) Issues Q2 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.34-0.44 for the period, compared to the consensus EPS 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.

CyberArk Software Trading Down 2.7 %

NASDAQ CYBR traded down $6.22 during trading hours on Friday, reaching $227.32. 768,897 shares of the stock traded hands, compared to its average volume of 461,485. The stock 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 1 year low of $125.15 and a 1 year high of $283.00.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CYBR shares. Susquehanna boosted their target price on CyberArk Software from $255.00 to $310.00 and gave the company a positive rating in a research note on Friday, February 9th. Truist Financial increased their price target on shares of CyberArk Software from $250.00 to $300.00 and gave the company a buy rating in a research report on Friday, February 9th. Citigroup upped their target price on CyberArk Software from $215.00 to $265.00 and gave the company a buy rating in a report on Wednesday, January 10th. Needham & Company LLC reaffirmed a buy rating and issued a $310.00 target price on shares of CyberArk Software in a research report on Friday. Finally, Wells Fargo & Company boosted their price target on shares of CyberArk Software from $250.00 to $275.00 and gave the company an overweight rating in a research report on Monday, January 29th. Two research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, CyberArk Software currently has an average rating of Moderate Buy and an average target price of $265.63.

About CyberArk Software

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.