CyberArk Software (NASDAQ:CYBR) Releases Q3 2024 Earnings Guidance

CyberArk Software (NASDAQ:CYBR) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.380-0.490 for the period, compared to the consensus earnings per share estimate of 0.380. The company issued revenue guidance of $230.0 million-$236.0 million, compared to the consensus revenue estimate of $232.8 million. CyberArk Software also updated its FY 2024 guidance to 2.170-2.360 EPS.

CyberArk Software Trading Up 8.7 %

CyberArk Software stock traded up $21.07 during trading hours on Thursday, hitting $264.54. 309,918 shares of the stock traded hands, compared to its average volume of 546,376. CyberArk Software has a one year low of $142.92 and a one year high of $284.10. The company has a market cap of $11.18 billion, a PE ratio of -411.41 and a beta of 1.14. The firm’s 50-day moving average price is $256.70 and its two-hundred day moving average price is $252.34.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CYBR shares. Cantor Fitzgerald restated an overweight rating and issued a $300.00 price objective on shares of CyberArk Software in a report on Monday, July 22nd. JMP Securities restated a market outperform rating and set a $310.00 target price on shares of CyberArk Software in a research note on Monday, June 17th. Rosenblatt Securities restated a buy rating and issued a $310.00 price target on shares of CyberArk Software in a research note on Tuesday. Bank of America reaffirmed a buy rating and set a $315.00 target price on shares of CyberArk Software in a report on Wednesday, April 24th. Finally, Guggenheim reissued a buy rating and set a $300.00 price target on shares of CyberArk Software in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, CyberArk Software currently has an average rating of Moderate Buy and an average price target of $280.63.

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.