CyberArk Software (NASDAQ:CYBR) Issues Q2 Earnings Guidance

CyberArk Software (NASDAQ:CYBR – Get Rating) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $(0.19)-(0.09) for the period, compared to the consensus estimate of ($0.13). The company issued revenue guidance of $170-175 million, compared to the consensus revenue estimate of $173.46 million. CyberArk Software also updated its FY23 guidance to $0.16-0.38 EPS.

CyberArk Software Stock Up 1.0 %

CYBR opened at $155.06 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.31 and a quick ratio of 2.31. The company’s 50-day moving average is $138.19 and its 200 day moving average is $139.34. CyberArk Software has a fifty-two week low of $113.19 and a fifty-two week high of $165.18.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Roth Capital restated a buy rating on shares of CyberArk Software in a report on Thursday, February 9th. DA Davidson raised their target price on shares of CyberArk Software from $175.00 to $185.00 and gave the stock a buy rating in a research note on Friday, February 10th. Citigroup lifted their price objective on shares of CyberArk Software from $155.00 to $175.00 and gave the company a buy rating in a research report on Friday, February 10th. StockNews.com began coverage on shares of CyberArk Software in a research note on Thursday, May 18th. They set a hold rating for the company. Finally, Truist Financial started coverage on shares of CyberArk Software in a research note on Friday, April 21st. They issued a buy rating and a $185.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $174.77.

Hedge Funds Weigh In On CyberArk Software

Large investors have recently modified their holdings of the business. 1832 Asset Management L.P. acquired a new stake in CyberArk Software in the fourth quarter valued at approximately $33,000. Covestor Ltd bought a new stake in CyberArk Software during the first quarter valued at approximately $73,000. Eaton Vance Management increased its position in shares of CyberArk Software by 36.7% during the 1st quarter. Eaton Vance Management now owns 1,230 shares of the technology company’s stock valued at $207,000 after purchasing an additional 330 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in CyberArk Software in the 1st quarter worth $223,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in CyberArk Software by 16.8% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,390 shares of the technology company’s stock valued at $235,000 after acquiring an additional 200 shares during the period. Institutional investors own 91.52% of the company’s stock.

CyberArk Software Company Profile

(Get Rating)

CyberArk Software Ltd. engages in the development, market, and sale of access security software solutions. The firm’s products include Privilege, Access, and DevSecOps. It offers its products and services to banking, insurance, healthcare, and federal industries. The company was founded by Udi Mokady and Alon Cohen in 1999 and is headquartered in Petah Tikva, Israel.