CyberArk Software (NASDAQ:CYBR) Updates FY 2022 Earnings Guidance

CyberArk Software (NASDAQ:CYBRGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of -$0.92–$0.60 for the period, compared to the consensus earnings per share estimate of -$0.75. The company issued revenue guidance of $583.50 million-$598.50 million, compared to the consensus revenue estimate of $590.19 million.CyberArk Software also updated its FY22 guidance to $(0.92)-$(0.60) EPS.

Shares of CYBR traded up $13.07 during trading hours on Friday, reaching $133.57. 958,419 shares of the company’s stock traded hands, compared to its average volume of 417,777. The business’s fifty day simple moving average is $157.54 and its two-hundred day simple moving average is $160.74. CyberArk Software has a twelve month low of $100.35 and a twelve month high of $201.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.12 and a quick ratio of 3.12.

CyberArk Software (NASDAQ:CYBRGet Rating) last released its quarterly earnings results on Thursday, May 12th. The technology company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.01. CyberArk Software had a negative return on equity of 9.01% and a negative net margin of 16.69%. The business had revenue of $127.60 million during the quarter, compared to analyst estimates of $130.43 million. During the same quarter last year, the company posted ($0.28) EPS. CyberArk Software’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities analysts anticipate that CyberArk Software will post -3.36 EPS for the current year.

CYBR has been the subject of a number of recent analyst reports. KeyCorp started coverage on CyberArk Software in a research report on Monday, April 4th. They issued an overweight rating and a $217.00 price target for the company. Wells Fargo & Company decreased their price objective on CyberArk Software from $170.00 to $125.00 in a research report on Friday. Stifel Nicolaus decreased their price objective on CyberArk Software from $210.00 to $168.00 in a research report on Friday. Summit Insights decreased their price objective on CyberArk Software from $225.00 to $150.00 in a research report on Thursday. Finally, Wedbush decreased their price objective on CyberArk Software from $195.00 to $150.00 in a research report on Friday. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $180.72.

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. increased its position in CyberArk Software by 6.9% in the 4th quarter. Advisors Asset Management Inc. now owns 6,644 shares of the technology company’s stock worth $1,151,000 after buying an additional 426 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of CyberArk Software by 277.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 6,625 shares of the technology company’s stock valued at $1,148,000 after purchasing an additional 4,870 shares during the period. USS Investment Management Ltd bought a new stake in shares of CyberArk Software during the first quarter valued at approximately $1,118,000. American International Group Inc. increased its position in shares of CyberArk Software by 4.3% during the first quarter. American International Group Inc. now owns 5,846 shares of the technology company’s stock valued at $987,000 after purchasing an additional 241 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd increased its position in shares of CyberArk Software by 6.8% during the first quarter. Dai Ichi Life Insurance Company Ltd now owns 5,124 shares of the technology company’s stock valued at $865,000 after purchasing an additional 324 shares during the period. 89.52% of the stock is currently owned by institutional investors and hedge funds.

About CyberArk Software (Get Rating)

CyberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager that offers risk-based credential security and session management to protect against attacks involving privileged access; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide fast, easy, and secure privileged access to third-party vendors; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint; and Cloud Entitlements Manager, a SaaS solution, which reduces risk that arises from excessive privileges by implementing least privilege across cloud environments.

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