CyberArk Software (NASDAQ:CYBR) Updates Q2 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) issued an update on its second quarter earnings guidance on Thursday morning. 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 Up 0.3 %

Shares of NASDAQ:CYBR opened at $237.86 on Thursday. The company has a 50-day simple moving average of $255.34 and a 200-day simple moving average of $225.39. CyberArk Software has a one year low of $120.11 and a one year high of $283.00.

CyberArk Software (NASDAQ:CYBR) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.53. The firm had revenue of $223.10 million during 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%. Sell-side analysts predict that CyberArk Software will post -1.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

CYBR has been the topic of several recent analyst reports. Wells Fargo & Company upped their target price on shares of CyberArk Software from $250.00 to $275.00 and gave the stock an overweight rating in a research report on Monday, January 29th. Rosenblatt Securities restated a buy rating and set a $310.00 target price on shares of CyberArk Software in a research report on Wednesday. Cantor Fitzgerald restated an overweight rating and set a $300.00 target price on shares of CyberArk Software in a research report on Wednesday, April 17th. KeyCorp upped their target price on shares of CyberArk Software from $274.00 to $305.00 and gave the stock an overweight rating in a research report on Friday, February 9th. Finally, Needham & Company LLC increased their price target on shares of CyberArk Software from $245.00 to $310.00 and gave the company a buy rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, CyberArk Software has a consensus rating of Moderate Buy and a consensus target price of $258.96.

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.