CyberArk Software (NASDAQ:CYBR) Releases Q2 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CYBR shares. Oppenheimer boosted their target price on shares of CyberArk Software from $195.00 to $260.00 and gave the stock an outperform rating in a research report on Monday, January 8th. Wedbush reissued an outperform rating and set a $285.00 price objective on shares of CyberArk Software in a research report on Friday. DA Davidson lowered their target price on CyberArk Software from $300.00 to $275.00 and set a buy rating on the stock in a report on Friday. Needham & Company LLC reiterated a buy rating and set a $310.00 price target on shares of CyberArk Software in a report on Friday. Finally, Truist Financial raised their price objective on shares of CyberArk Software from $250.00 to $300.00 and gave the stock a buy rating in a research note on Friday, February 9th. 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 data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $265.63.

CyberArk Software Price Performance

CYBR stock traded down $6.22 during trading on Friday, hitting $227.32. The company had a trading volume of 768,897 shares, compared to its average volume of 461,485. The company has a fifty day moving average price of $254.41 and a two-hundred day moving average price of $226.27. CyberArk Software has a fifty-two week low of $125.15 and a fifty-two week high of $283.00.

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

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.