CyberArk Software (NASDAQ:CYBR) Releases Q3 2022 Earnings Guidance

CyberArk Software (NASDAQ:CYBRGet Rating) issued an update on its third quarter 2022 earnings guidance on Friday morning. The company provided EPS guidance of -$0.27–$0.14 for the period, compared to the consensus EPS estimate of -$0.22. The company issued revenue guidance of $147.00 million-$153.00 million, compared to the consensus revenue estimate of $148.32 million. CyberArk Software also updated its FY 2022 guidance to -$0.82–$0.57 EPS.

CyberArk Software Trading Down 0.9 %

NASDAQ CYBR opened at $137.51 on Friday. The firm has a market cap of $5.60 billion, a PE ratio of -45.53 and a beta of 1.20. CyberArk Software has a 1-year low of $100.35 and a 1-year high of $201.68. The stock has a 50-day moving average of $139.03 and a 200-day moving average of $146.11. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.86.

CyberArk Software (NASDAQ:CYBRGet Rating) last announced its quarterly earnings results on Wednesday, August 10th. The technology company reported ($0.88) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.07. The business had revenue of $142.33 million for the quarter, compared to analysts’ expectations of $138.45 million. CyberArk Software had a negative return on equity of 15.42% and a negative net margin of 22.37%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.45) EPS. As a group, sell-side analysts forecast that CyberArk Software will post -3.67 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on CYBR. Wedbush raised their price target on shares of CyberArk Software from $150.00 to $170.00 and gave the stock an outperform rating in a report on Thursday, August 11th. Summit Insights cut their target price on CyberArk Software from $225.00 to $150.00 in a research note on Thursday, May 12th. Mizuho upped their price target on CyberArk Software from $170.00 to $180.00 and gave the company a buy rating in a research report on Thursday, August 11th. Needham & Company LLC lifted their price objective on CyberArk Software from $195.00 to $200.00 and gave the stock a buy rating in a research report on Thursday, August 11th. Finally, Robert W. Baird reduced their target price on CyberArk Software from $200.00 to $180.00 in a research note on Friday, May 13th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, CyberArk Software has a consensus rating of Moderate Buy and a consensus price target of $177.67.

Institutional Investors Weigh In On CyberArk Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd purchased a new stake in shares of CyberArk Software in the first quarter worth $73,000. Eaton Vance Management grew its position in 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. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position 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 purchasing an additional 200 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in CyberArk Software by 23.4% during the 1st quarter. Wetherby Asset Management Inc. now owns 1,550 shares of the technology company’s stock valued at $262,000 after purchasing an additional 294 shares in the last quarter. Finally, Yousif Capital Management LLC purchased a new position in CyberArk Software in the first quarter worth about $293,000. Hedge funds and other institutional investors own 88.36% of the company’s stock.

CyberArk Software Company Profile

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CyberArk 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; and Cloud Entitlements Manager, a SaaS solution, which reduces risk that arises from excessive privileges by implementing least privilege across cloud environments.

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