CyberArk Software Gains 7% Following Earnings Report

CyberArk Software Gains 7% Following Earnings Report Feb. 8, 2024, 3:17 p.m., readers: 16

Shares of CyberArk Software (NASDAQ:CYBR) experienced a nearly 7% increase intra-day today following the announcement of its quarterly earnings, which exceeded the consensus expectations for the fourth quarter. CyberArk reported a fourth-quarter EPS of $0.81, surpassing the analyst prediction of $0.47 by $0.34. The company's revenue for the quarter was $223.1 million, a 32% increase year-on-year (YoY) and higher than the expected $209.72 million. The company's subscription revenue for the quarter stood at $150.3 million, marking a 70% rise from $88.5 million in the fourth quarter of 2022. For the entire year, CyberArk's total average recurring revenue (ARR) reached $774 million, growing by 36% YoY. Looking forward, CyberArk anticipates Q1 EPS to be between $0.21 and $0.31, compared to the consensus estimate of $0.24, with revenue projections ranging from $209 million to $215 million, against the consensus estimate of $207.2 million. For the full fiscal year 2024, CyberArk forecasts an EPS between $1.63 and $1.81, compared to the consensus estimate of $1.72, and expects revenue to be between $920 million and $930 million, surpassing the consensus estimate of $915.8 million.


C yberArk Software Ltd., together with its subsidiaries, develops, markets, and sales software-based security solutions and services in the United States, Europe, the Middle East, Africa, and internationally. Its solutions include Privileged Access Manager that offers risk-based credential security and session management to protect against attacks involving privileged access; Vendor Privileged Access Manager combines Privileged Access Manager and Remote Access to provide fast, easy, and secure privileged access to third-party vendors; Endpoint Privilege Manager, a SaaS solution that secures privileges on the endpoint;

Price: 239.97
Market cap: 10.2 billion USD
Eps: -1.61
P/e ratio: -149.05
Focus Analysis On: CYBR