CyberArk Software (NASDAQ:CYBR) Issues FY24 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.17-2.36 for the period, compared to the consensus EPS estimate of $2.03. The company issued revenue guidance of $932-942 million, compared to the consensus revenue estimate of $934.87 million. CyberArk Software also updated its FY 2024 guidance to 2.170-2.360 EPS.

Analysts Set New Price Targets

A number of brokerages have weighed in on CYBR. Rosenblatt Securities reiterated a buy rating and issued a $310.00 price target on shares of CyberArk Software in a research report on Tuesday, August 6th. Citigroup increased their target price on CyberArk Software from $305.00 to $310.00 and gave the stock a buy rating in a report on Friday. Robert W. Baird increased their target price on CyberArk Software from $295.00 to $315.00 and gave the stock an outperform rating in a report on Friday. Canaccord Genuity Group decreased their target price on CyberArk Software from $300.00 to $280.00 and set a buy rating on the stock in a report on Tuesday, June 4th. Finally, Bank of America restated a buy rating and set a $315.00 target price on shares of CyberArk Software in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $290.83.

CyberArk Software Trading Up 3.8 %

Shares of CYBR traded up $10.13 during mid-day trading on Friday, reaching $273.72. The company’s stock had a trading volume of 934,482 shares, compared to its average volume of 555,036. CyberArk Software has a 1-year low of $148.01 and a 1-year high of $284.10. The stock has a market cap of $11.57 billion, a P/E ratio of -427.69 and a beta of 1.14. The business has a 50-day simple moving average of $258.55 and a two-hundred day simple moving average of $252.74.

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.