CyberArk Software Ltd. (CYBR) Announces Quarterly Earnings Results
CyberArk Software Ltd. (NASDAQ:CYBR) posted its earnings results on Thursday. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.06, Briefing.com reports. The business had revenue of $64.80 million for the quarter, compared to analysts’ expectations of $62.65 million. CyberArk Software had a net margin of 11.93% and a return on equity of 9.13%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 EPS. CyberArk Software updated its Q4 guidance to $0.35-0.36 EPS.
An institutional investor recently raised its position in CyberArk Software stock. Vanguard Group Inc. boosted its position in CyberArk Software Ltd. (NASDAQ:CYBR) by 59.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,495 shares of the technology company’s stock after buying an additional 6,897 shares during the period. Vanguard Group Inc. owned approximately 0.06% of CyberArk Software worth $924,000 as of its most recent filing with the Securities & Exchange Commission. 81.44% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on the stock. Piper Jaffray Companies set a $47.00 target price on shares of CyberArk Software and gave the company a “buy” rating in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of CyberArk Software from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of CyberArk Software in a research note on Tuesday, September 12th. ValuEngine cut shares of CyberArk Software from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of CyberArk Software from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $49.85.
CyberArk Software Company Profile
CyberArk Software Ltd is an Israel-based provider of information technology (IT) security solutions that protects organizations from cyber-attacks. The Company’s software solutions are focused on protecting privileged accounts, which have become a critical target in the lifecycle of cyber-attacks. The Company’s Privileged Account Security Solution consists of various products, such as Shares Technology Platform, Enterprise Password Vault, SSH Key Manager, Privileged Session Manager, Privileged Threat Analytics, Application Identity Manager, CyberArk-Conjur, Endpoint Privilege Manager and On-Demand Privileges Manager.
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