CyberArk Software (NASDAQ:CYBR) Updates Q4 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.65-$0.75 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CYBR. Needham & Company LLC restated a “buy” rating and set a $310.00 target price on shares of CyberArk Software in a report on Friday, August 9th. Scotiabank began coverage on shares of CyberArk Software in a report on Monday, October 21st. They set a “sector outperform” rating and a $340.00 target price for the company. Robert W. Baird boosted their price target on CyberArk Software from $315.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. BTIG Research raised their price objective on CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Mizuho lifted their target price on CyberArk Software from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $311.44.

CyberArk Software Stock Performance

Shares of NASDAQ:CYBR opened at $291.61 on Thursday. The company’s 50-day moving average is $283.33 and its 200 day moving average is $266.24. The company has a market capitalization of $12.71 billion, a P/E ratio of -911.28 and a beta of 1.13. CyberArk Software has a fifty-two week low of $183.28 and a fifty-two week high of $318.16.

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.