CyberArk Software (NASDAQ:CYBR) Issues Q2 2024 Earnings Guidance

CyberArk Software (NASDAQ:CYBR - Get Free Report) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 0.340-0.440 for the period, compared to the consensus EPS estimate of 0.300. The company issued revenue guidance of $215.0 million-$221.0 million, compared to the consensus revenue estimate of $221.0 million. CyberArk Software also updated its FY 2024 guidance to 1.880-2.070 EPS.

CyberArk Software Trading Down 2.7 %

Shares of CYBR traded down $6.22 on Friday, reaching $227.32. 768,883 shares of the company's stock traded hands, compared to its average volume of 582,623. The stock has a market cap of $9.61 billion, a PE ratio of -140.32 and a beta of 1.06. The stock's 50 day simple moving average is $254.41 and its two-hundred day simple moving average is $225.88. CyberArk Software has a 52-week low of $125.15 and a 52-week high of $283.00.

CyberArk Software (NASDAQ:CYBR - Get Free Report) last issued its earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share (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 8.84% and a negative return on equity of 8.23%. Analysts forecast that CyberArk Software will post -1.46 earnings per share for the current year.

Wall Street Analyst Weigh In

CYBR has been the subject of several research reports. Rosenblatt Securities reiterated a buy rating and issued a $310.00 target price on shares of CyberArk Software in a research report on Wednesday. BTIG Research assumed coverage on shares of CyberArk Software in a research note on Thursday, March 28th. They set a buy rating and a $317.00 price target on the stock. KeyCorp boosted their price target on shares of CyberArk Software from $274.00 to $305.00 and gave the stock an overweight rating in a research note on Friday, February 9th. Morgan Stanley cut CyberArk Software from an overweight rating to an equal weight rating and lifted their price target for the stock from $195.00 to $240.00 in a research note on Tuesday, January 9th. Finally, DA Davidson cut their target price on shares of CyberArk Software from $300.00 to $275.00 and set a buy rating on the stock in a report on Friday. Two research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price 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.