CyberArk Software (NASDAQ:CYBR) Releases 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.

CyberArk Software Stock Performance

NASDAQ:CYBR opened at $305.27 on Friday. CyberArk Software has a 52-week low of $183.28 and a 52-week high of $318.16. The stock has a fifty day moving average of $284.25 and a 200 day moving average of $266.66. The firm has a market capitalization of $13.30 billion, a price-to-earnings ratio of 1,130.67 and a beta of 1.13.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays upped their price objective on shares of CyberArk Software from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Thursday. Citigroup increased their price target on shares of CyberArk Software from $305.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Canaccord Genuity Group upped their target price on shares of CyberArk Software from $310.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird raised their price target on CyberArk Software from $315.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Wedbush upped their price objective on CyberArk Software from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat, CyberArk Software currently has a consensus rating of “Moderate Buy” and an average price target of $328.37.

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.