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

CyberArk Software (NASDAQ:CYBR) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.170-2.360 for the period, compared to the consensus earnings per share estimate of 2.030. The company issued revenue guidance of $932.0 million-$942.0 million, compared to the consensus revenue estimate of $935.5 million. CyberArk Software also updated its FY24 guidance to $2.17-2.36 EPS.

CyberArk Software Stock Performance

CyberArk Software stock traded up $10.13 during midday trading on Friday, hitting $273.72. 934,482 shares of the company’s stock were exchanged, compared to its average volume of 555,036. CyberArk Software has a 12-month low of $148.01 and a 12-month high of $284.10. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of -427.69 and a beta of 1.14. The firm’s 50 day simple moving average is $258.55 and its 200 day simple moving average is $252.74.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CYBR shares. Needham & Company LLC reissued a buy rating and set a $310.00 price objective on shares of CyberArk Software in a research report on Friday. Wedbush raised their price objective on shares of CyberArk Software from $285.00 to $300.00 and gave the stock an outperform rating in a research report on Friday. Cantor Fitzgerald reissued an overweight rating and set a $300.00 price objective on shares of CyberArk Software in a research report on Friday. DA Davidson raised their price objective on shares of CyberArk Software from $285.00 to $315.00 and gave the stock a buy rating in a research report on Friday. Finally, Bank of America reissued a buy rating and set a $315.00 price objective on shares of CyberArk Software in a research 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 company’s stock. According to data from MarketBeat, CyberArk Software presently has a consensus rating of Moderate Buy and an average 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.