CyberArk Software (NASDAQ:CYBR) Releases FY 2024 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.850-2.960 for the period, compared to the consensus EPS estimate of 2.310. The company issued revenue guidance of $983.0 million-$989.0 million, compared to the consensus revenue estimate of $941.5 million. CyberArk Software also updated its Q4 guidance to $0.65-$0.75 EPS.

CyberArk Software Stock Down 3.0 %

Shares of NASDAQ:CYBR opened at $291.61 on Thursday. The company’s fifty day moving average is $283.33 and its 200 day moving average is $266.24. The stock has a market cap of $12.71 billion, a PE ratio of -911.28 and a beta of 1.13. CyberArk Software has a 52 week low of $183.28 and a 52 week high of $318.16.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Mizuho raised their target price on CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. DA Davidson upped their price target on CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada began coverage on CyberArk Software in a research note on Friday, September 20th. They set an “outperform” rating and a $328.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $310.00 price target on shares of CyberArk Software in a research note on Friday, August 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $310.00 target price on shares of CyberArk Software in a report on Monday, November 4th. One analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $311.44.

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.