CyberArk Software (NASDAQ:CYBR) Updates FY24 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.88-2.07 for the period, compared to the consensus estimate of $1.76. The company issued revenue guidance of $928-938 million, compared to the consensus revenue estimate of $927.27 million. CyberArk Software also updated its Q2 guidance to $0.34-0.44 EPS.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. KeyCorp boosted their price objective on shares of CyberArk Software from $274.00 to $305.00 and gave the company an overweight rating in a research note on Friday, February 9th. Needham & Company LLC boosted their price objective on shares of CyberArk Software from $245.00 to $310.00 and gave the company a buy rating in a research note on Friday, February 9th. JMP Securities upped their price target on shares of CyberArk Software from $195.00 to $280.00 and gave the stock a market outperform rating in a research report on Wednesday, January 31st. Oppenheimer upped their price target on shares of CyberArk Software from $195.00 to $260.00 and gave the stock an outperform rating in a research report on Monday, January 8th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $300.00 price target on shares of CyberArk Software in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, CyberArk Software presently has a consensus rating of Moderate Buy and a consensus price target of $258.96.

CyberArk Software Stock Performance

Shares of CyberArk Software stock opened at $237.86 on Thursday. The firm’s 50-day simple moving average is $255.34 and its 200-day simple moving average is $225.39. CyberArk Software has a 1 year low of $120.11 and a 1 year high of $283.00.

CyberArk Software (NASDAQ:CYBR) 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 analyst estimates of $209.65 million. CyberArk Software had a negative net margin of 8.84% and a negative return on equity of 8.23%. As a group, equities research analysts expect that CyberArk Software will post -1.46 earnings per share for the current year.

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.