CyberArk Software (NASDAQ:CYBR) Updates Q3 2024 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.380-0.490 for the period, compared to the consensus earnings per share estimate of 0.380. The company issued revenue guidance of $230.0 million-$236.0 million, compared to the consensus revenue estimate of $232.8 million. CyberArk Software also updated its FY 2024 guidance to 2.170-2.360 EPS.

CyberArk Software Price Performance

Shares of CyberArk Software stock traded up $10.13 on Friday, reaching $273.72. 934,482 shares of the company traded hands, compared to its average volume of 555,036. CyberArk Software has a 52 week low of $148.01 and a 52 week high of $284.10. The company has a 50 day moving average of $258.55 and a 200 day moving average of $252.63. The firm has a market capitalization of $11.57 billion, a PE ratio of -427.69 and a beta of 1.14.

Analyst Ratings Changes

Several research firms recently commented on CYBR. Rosenblatt Securities reaffirmed a buy rating and issued a $310.00 price objective on shares of CyberArk Software in a report on Tuesday. 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 raised their price objective on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a buy rating in a report on Friday. Needham & Company LLC reaffirmed a buy rating and issued a $310.00 price objective on shares of CyberArk Software in a report on Friday. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $300.00 price objective on shares of CyberArk Software in a report on Friday. Two analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, CyberArk Software currently has an average rating of Moderate Buy and an average price target of $286.20.

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.