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

CyberArk Software (NASDAQ:CYBR) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Wall Street Analysts Forecast Growth

CYBR has been the subject of a number of analyst reports. Oppenheimer raised their price target on shares of CyberArk Software from $310.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $335.00 price target on shares of CyberArk Software in a research note on Thursday. Mizuho upped their price target on CyberArk Software from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group lifted their price objective on CyberArk Software from $315.00 to $330.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $310.00 target price on shares of CyberArk Software in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $328.37.

CyberArk Software Stock Performance

CyberArk Software stock opened at $301.28 on Friday. The stock has a fifty day moving average of $283.62 and a 200-day moving average of $266.42. The stock has a market capitalization of $13.13 billion, a P/E ratio of 1,115.89 and a beta of 1.13. CyberArk Software has a 52 week low of $183.28 and a 52 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.