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

CyberArk Software (NASDAQ:CYBR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.850-2.960 for the period, compared to the consensus earnings per share 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 Performance

Shares of NASDAQ CYBR opened at $301.28 on Friday. The stock has a market cap of $13.13 billion, a P/E ratio of 1,115.89 and a beta of 1.13. The firm has a 50 day moving average price of $283.62 and a two-hundred day moving average price of $266.42. 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 research analysts have recently weighed in on the company. KeyCorp increased their price target on CyberArk Software from $340.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday. Truist Financial restated a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of CyberArk Software in a research report on Thursday. Royal Bank of Canada increased their price objective on shares of CyberArk Software from $328.00 to $358.00 and gave the stock an “outperform” rating in a research report on Thursday. DA Davidson lifted their target price on shares of CyberArk Software from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, JMP Securities upped their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the company a “market outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, CyberArk Software presently has a consensus rating of “Moderate Buy” and an average price target of $328.37.

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.