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.

CyberArk Software Stock Performance

Shares of NASDAQ CYBR traded down $6.22 during trading hours on Friday, hitting $227.32. 768,897 shares of the company traded hands, compared to its average volume of 461,485. The company’s 50 day moving average price is $254.41 and its 200 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 announced 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. Sell-side analysts predict that CyberArk Software will post -1.46 earnings per share for the current year.

Analysts Set New Price Targets

CYBR has been the topic of several research analyst reports. Truist Financial upped their price objective on CyberArk Software from $250.00 to $300.00 and gave the company a buy rating in a research report on Friday, February 9th. DA Davidson dropped their price target on CyberArk Software from $300.00 to $275.00 and set a buy rating on the stock in a research report on Friday. UBS Group lifted their price objective on CyberArk Software from $215.00 to $260.00 and gave the company a buy rating in a report on Wednesday, January 10th. Wells Fargo & Company increased their target price on shares of CyberArk Software from $250.00 to $275.00 and gave the stock an overweight rating in a report on Monday, January 29th. Finally, Oppenheimer raised their target price on shares of CyberArk Software from $195.00 to $260.00 and gave the company an outperform rating in a research report on Monday, January 8th. Two analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, CyberArk Software currently has a consensus rating of Moderate Buy and an average price target 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.