CyberArk Software (NASDAQ:CYBR) Releases Fiscal 2022 Revenue Forecast
CyberArk Software (NASDAQ: CYBR – Get a rating) updated its earnings guidance for fiscal 2022 on Thursday. The company provided earnings per share guidance of -$0.92 to $0.60 for the period, compared to the consensus earnings estimate. per share of -$0.75. The company released a revenue forecast of $583.50 million to $598.50 million, compared to the consensus revenue estimate of $590.19 million.
Several research firms have recently commented on CYBR. KeyCorp began covering CyberArk Software in a research note on Monday, April 4. They issued an overweight rating and a price target of $217.00 on the stock. Guggenheim lowered its price target on CyberArk Software from $225.00 to $182.00 and set a Buy rating for the company in a Friday, February 11 report. Robert W. Baird lowered his price target on CyberArk Software from $200.00 to $180.00 in a Friday, May 13 report. Stephens took cover for CyberArk Software in a Wednesday, May 25 report. They set an overweight rating and a target price of $170.00 for the company. Finally, Wells Fargo & Company lowered its target price on CyberArk Software from $170.00 to $125.00 in a Friday, May 13 report. Three research analysts gave the stock a hold rating and sixteen gave the company’s stock a buy rating. According to data from MarketBeat, the stock currently has an average buy rating and a consensus target price of $180.16.
NASDAQ: CYBR traded down $1.72 during Thursday trading hours, hitting $141.55. 189 shares of the stock have traded, compared to its average volume of 443,917. The company has a 50-day moving average price of $149.83 and a 200-day moving average price of $154.13. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt ratio of 0.85. CyberArk Software has a fifty-two week minimum of $100.35 and a fifty-two week maximum of $201.68. The company has a market capitalization of $5.76 billion, a price-earnings ratio of -53.66 and a beta of 1.26.
CyberArk Software (NASDAQ: CYBR – Get a rating) last announced its results on Thursday, May 12. The technology company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.01. CyberArk Software had a negative net margin of 20.58% and a negative return on equity of 12.64%. The company posted revenue of $127.60 million for the quarter, versus a consensus estimate of $130.43 million. During the same period of the previous year, the company achieved EPS of ($0.28). The company’s revenue increased 13.1% year over year. Research analysts predict that CyberArk Software will post -3.53 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in CyberArk Software during the fourth quarter worth $26,000. Covestor Ltd purchased a new stake in CyberArk Software during the first quarter worth approximately $73,000. Eaton Vance Management increased its stake in CyberArk Software by 36.7% during the first quarter. Eaton Vance Management now owns 1,230 shares of the technology company valued at $207,000 after acquiring 330 additional shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in CyberArk Software by 16.8% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,390 shares of the technology company valued at $235,000 after acquiring 200 more shares during the period. Finally, Kingsview Wealth Management LLC purchased a new stake in CyberArk Software during the fourth quarter, valued at approximately $259,000. 89.52% of the shares are currently held by hedge funds and other institutional investors.
About CyberArk Software (Get a rating)
CyberArk Software Ltd., together with its subsidiaries, develops, markets and sells software-based security solutions and services in the United States, Europe, the Middle East, Africa and internationally. Its solutions include Privileged Access Manager which provides 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 the risk of excessive privileges by implementing least privilege in cloud environments.
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