CyberArk Software (NASDAQ:CYBR) Releases Q3 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.38-0.49 for the period, compared to the consensus earnings per share estimate of $0.38. The company issued revenue guidance of $230-236 million, compared to the consensus revenue estimate of $232.67 million. CyberArk Software also updated its FY 2024 guidance to 2.170-2.360 EPS.

Analyst Ratings Changes

Several research analysts have weighed in on CYBR shares. Wedbush raised their price objective on shares of CyberArk Software from $285.00 to $300.00 and gave the stock an outperform rating in a report on Friday. Citigroup lifted their price target on CyberArk Software from $305.00 to $310.00 and gave the stock a buy rating in a research note on Friday. Needham & Company LLC restated a buy rating and set a $310.00 price objective on shares of CyberArk Software in a research note on Friday. JMP Securities reaffirmed a market outperform rating and set a $310.00 target price on shares of CyberArk Software in a report on Monday, June 17th. Finally, KeyCorp boosted their price target on CyberArk Software from $300.00 to $310.00 and gave the company an overweight rating 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’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $290.83.

CyberArk Software Trading Up 3.8 %

CYBR traded up $10.13 during trading hours on Friday, hitting $273.72. The company’s stock had a trading volume of 934,482 shares, compared to its average volume of 555,036. CyberArk Software has a fifty-two week low of $148.01 and a fifty-two week high of $284.10. The company has a 50-day simple moving average of $258.55 and a 200 day simple moving average of $252.74. The firm has a market capitalization of $11.57 billion, a PE ratio of -427.69 and a beta of 1.14.

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.