CyberArk Software (NASDAQ:CYBR) Updates Q3 2024 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.380-0.490 for the period, compared to the consensus earnings per share estimate of 0.380. The company issued revenue guidance of $230.0 million-$236.0 million, compared to the consensus revenue estimate of $232.8 million. CyberArk Software also updated its FY 2024 guidance to 2.170-2.360 EPS.

CyberArk Software Stock Performance

CYBR stock traded up $10.13 during midday trading on Friday, hitting $273.72. 934,482 shares of the stock were exchanged, compared to its average volume of 555,036. The stock’s 50-day moving average price is $258.55 and its 200-day moving average price is $252.74. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of -427.69 and a beta of 1.14. CyberArk Software has a fifty-two week low of $148.01 and a fifty-two week high of $284.10.

Analyst Ratings Changes

Several research firms have recently commented on CYBR. Citigroup increased their price target on CyberArk Software from $305.00 to $310.00 and gave the company a buy rating in a research note on Friday. Rosenblatt Securities reiterated a buy rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Tuesday, August 6th. Canaccord Genuity Group reduced their target price on CyberArk Software from $300.00 to $280.00 and set a buy rating for the company in a report on Tuesday, June 4th. JMP Securities reiterated a market outperform rating and set a $310.00 price objective on shares of CyberArk Software in a report on Monday, June 17th. Finally, Wedbush increased their price objective on CyberArk Software from $285.00 to $300.00 and gave the stock an outperform rating in a report on Friday. Two research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $290.83.

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.