CyberArk Software (NASDAQ:CYBR) Releases FY24 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.17-2.36 for the period, compared to the consensus 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.

CyberArk Software Price Performance

Shares of NASDAQ:CYBR traded up $10.13 during trading on Friday, hitting $273.72. 934,482 shares of the company’s stock were exchanged, compared to its average volume of 555,036. The business’s 50-day simple moving average is $258.55 and its 200 day simple moving average is $252.74. CyberArk Software has a 52-week low of $148.01 and a 52-week high of $284.10. The company has a market cap of $11.57 billion, a price-to-earnings ratio of -427.69 and a beta of 1.14.

Analysts Set New Price Targets

Several research firms have recently issued reports on CYBR. Rosenblatt Securities reiterated a buy rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Tuesday, August 6th. Citigroup boosted their price target on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a buy rating in a research note on Friday. Robert W. Baird raised their price objective on CyberArk Software from $295.00 to $315.00 and gave the company an outperform rating in a research report on Friday. Canaccord Genuity Group reduced 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, JMP Securities reissued a market outperform rating and set a $310.00 price target on shares of CyberArk Software in a research note on Monday, June 17th. Two analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $290.83.

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.