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

CyberArk Software (NASDAQ:CYBR) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.850-2.960 for the period, compared to the consensus EPS estimate of 2.310. The company issued revenue guidance of $983.0 million-$989.0 million, compared to the consensus revenue estimate of $941.5 million. CyberArk Software also updated its Q4 guidance to $0.65-$0.75 EPS.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CYBR. Citigroup upped 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. Mizuho lifted 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. BTIG Research boosted their price target on shares of CyberArk Software from $310.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. DA Davidson increased their price objective on shares of CyberArk Software from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group lifted their price target on shares of CyberArk Software from $315.00 to $330.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.44.

CyberArk Software Stock Down 3.0 %

CYBR opened at $291.61 on Thursday. The firm has a 50 day moving average price of $283.33 and a 200-day moving average price of $266.24. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of -911.28 and a beta of 1.13. CyberArk Software has a twelve month low of $183.28 and a twelve month 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.