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

CyberArk Software (NASDAQ:CYBR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.170-2.360 for the period, compared to the consensus earnings per share estimate of 2.030. The company issued revenue guidance of $932.0 million-$942.0 million, compared to the consensus revenue estimate of $935.5 million. CyberArk Software also updated its FY24 guidance to $2.17-2.36 EPS.

Analyst Ratings Changes

CYBR has been the subject of a number of analyst reports. Canaccord Genuity Group lowered their price target on CyberArk Software from $300.00 to $280.00 and set a buy rating for the company in a research report on Tuesday, June 4th. Citigroup lifted their price target on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a buy rating in a research note on Friday. Rosenblatt Securities reissued a buy rating and issued a $310.00 price objective on shares of CyberArk Software in a research report on Tuesday. Needham & Company LLC restated a buy rating and set a $310.00 target price on shares of CyberArk Software in a research report on Friday. Finally, Barclays upped their target price on CyberArk Software from $280.00 to $315.00 and gave the company an overweight rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a hold rating and twenty-four 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 price target of $286.20.

CyberArk Software Stock Performance

CYBR stock traded up $10.13 during trading on Friday, reaching $273.72. 934,482 shares of the company traded hands, compared to its average volume of 555,036. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of -427.69 and a beta of 1.14. The business has a 50 day simple moving average of $258.55 and a 200 day simple moving average of $252.63. CyberArk Software has a 12 month low of $148.01 and a 12 month high of $284.10.

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.