CyberArk Software (NASDAQ:CYBR) Releases 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.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CYBR shares. Guggenheim reissued a buy rating and issued a $300.00 price objective on shares of CyberArk Software in a research note on Tuesday, June 25th. DA Davidson boosted their target price on CyberArk Software from $275.00 to $285.00 and gave the stock a buy rating in a research report on Wednesday, May 22nd. Rosenblatt Securities restated a buy rating and set a $310.00 target price on shares of CyberArk Software in a research report on Tuesday. JMP Securities reissued a market outperform rating and issued a $310.00 target price on shares of CyberArk Software in a research note on Monday, June 17th. Finally, Bank of America restated a buy rating and set a $315.00 price objective 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 given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $280.63.

CyberArk Software Stock Up 8.7 %

Shares of CYBR traded up $21.07 during mid-day trading on Thursday, reaching $264.54. 309,918 shares of the stock traded hands, compared to its average volume of 546,376. The stock has a fifty day simple moving average of $256.70 and a 200 day simple moving average of $252.34. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of -411.41 and a beta of 1.14. CyberArk Software has a 12-month low of $142.92 and a 12-month high of $284.10.

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.