CyberArk Software (NASDAQ:CYBR) Issues Q4 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.65-$0.75 for the period, compared to the consensus estimate of $0.55. The company issued revenue guidance of $297-$303 million, compared to the consensus revenue estimate of $259.67 million. CyberArk Software also updated its FY 2024 guidance to 2.850-2.960 EPS.

CyberArk Software Price Performance

Shares of CYBR opened at $300.76 on Wednesday. The company’s 50-day moving average is $282.91 and its 200-day moving average is $265.83. CyberArk Software has a fifty-two week low of $181.11 and a fifty-two week high of $308.63.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Oppenheimer increased their target price on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Barclays upped their price target on shares of CyberArk Software from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Scotiabank began coverage on CyberArk Software in a research note on Monday, October 21st. They set a “sector outperform” rating and a $340.00 price target on the stock. Royal Bank of Canada began coverage on CyberArk Software in a research note on Friday, September 20th. They issued an “outperform” rating and a $328.00 price objective for the company. Finally, Mizuho raised their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $311.44.

About CyberArk Software

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.