CyberArk Software (NASDAQ:CYBR) Updates Q4 2024 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.650-0.750 for the period, compared to the consensus EPS estimate of 0.550. The company issued revenue guidance of $297.0 million-$303.0 million, compared to the consensus revenue estimate of $259.6 million. CyberArk Software also updated its FY 2024 guidance to 2.850-2.960 EPS.

CyberArk Software Stock Up 3.3 %

NASDAQ:CYBR opened at $301.28 on Friday. The firm’s fifty day simple moving average is $283.62 and its 200 day simple moving average is $266.42. The stock has a market cap of $13.13 billion, a P/E ratio of 1,115.89 and a beta of 1.13. CyberArk Software has a twelve month low of $183.28 and a twelve month high of $318.16.

Analysts Set New Price Targets

Several brokerages have commented on CYBR. Mizuho raised their price objective on shares of CyberArk Software from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $335.00 price target on shares of CyberArk Software in a research note on Thursday. Piper Sandler increased their price objective on CyberArk Software from $300.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group boosted their target price on shares of CyberArk Software from $340.00 to $360.00 and gave the company a “buy” rating in a report on Thursday. Finally, BTIG Research increased their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.