CyberArk Software (NASDAQ:CYBR) Issues Q4 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.65-$0.75 for the period, compared to the consensus estimate of $0.55. The company issued revenue guidance of $297-$303 million, compared to the consensus revenue estimate of $259.67 million. CyberArk Software also updated its FY 2024 guidance to 2.850-2.960 EPS.

CyberArk Software Price Performance

NASDAQ CYBR traded up $5.19 during trading hours on Wednesday, hitting $305.95. The company had a trading volume of 346,382 shares, compared to its average volume of 517,023. The business has a fifty day simple moving average of $282.91 and a 200-day simple moving average of $265.83. CyberArk Software has a fifty-two week low of $183.28 and a fifty-two week high of $316.39.

Wall Street Analysts Forecast Growth

CYBR has been the subject of several recent analyst reports. DA Davidson increased their price objective on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a report on Friday, August 9th. Susquehanna boosted their price objective on CyberArk Software from $310.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, August 9th. Oppenheimer raised their price objective on shares of CyberArk Software from $310.00 to $360.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Scotiabank began coverage on CyberArk Software in a report on Monday, October 21st. They issued a “sector outperform” rating and a $340.00 target price on the stock. Finally, Jefferies Financial Group lifted their price target on CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $311.44.

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.