CyberArk Software (NASDAQ:CYBR) Updates Third Quarter 2022 Earnings Guidance
The latest version of CyberArk Software’s (NASDAQ:CYBR) earnings forecast for the third quarter of 2022 was released Friday morning. The company said its earnings per share (EPS) projections for the period would be between -$0.27 and $0.14, which was lower than the average forecast of -$0.22. The company released a revenue forecast well below the consensus sales estimate of $148.32 million, or between $147 million and $153 million. According to projections made by CyberArk Software, the company expects to earn between $0.82 and $0.57 per share in fiscal 2022. Compared to previous forecasts, this is an improvement. There are three different cybersecurity stocks that could be good investments right now. When trading began on Friday, a share of CyberArk Software was valued at $138.73 per share. The company has been determined to have a market capitalization of $5.65 billion while having a price-earnings ratio of -45.94 and a beta value of 1.20. Over the past year, the price of CyberArk software has fluctuated from a low of $100.35 to a high of $201.68 at various times.
It has a debt ratio of 0.86, a current ratio which is the same as the current ratio and a quick ratio which is the same as the current ratio. The company’s current price is $139.03 above its past fifty-day simple moving average, and $146.11 above its past 200-day average. On August 10, CyberArk Software’s latest quarterly report, listed on NASDAQ under the symbol CYBR, was released to the general public. The technology business reported earnings per share for the quarter at $0.88, $0.07 better than the average forecast of $0.95. The company reported sales for the quarter that came in at $142.33 million, which was much better than the average projection of $138.45 million. The company’s return on equity and net margin were red for CyberArk Software. The company’s net margin was 22.37% and return on equity was 15.42%. Compared to the performance of the same period of the previous year, the increase in turnover was higher by 21.4%. Compared to the prior year period, the company incurred a loss of $0.45 on each share. Analysts expect CyberArk Software to end the year with a loss of $3.67 per 2018 share. The time to invest in Cyberark (NASDAQ: CYBR), a key cybersecurity player, is now.
Over the past few days, many market watchers have given their thoughts on CYBR stock. Robert W. Baird indicated in a study published Friday, May 13, a drop in his price target for CyberArk Software from $200,000.00 to $180,000.00. TheStreet downgraded CyberArk Software from a c rating to a d+ rating in a research note published on May 18. Wells Fargo & Company raised its price target on CyberArk Software from $125.00 to $145.00 and gave the company an equal weight rating in a research report that was released Thursday, August 11. On Thursday August 11, KeyCorp published a report containing the results of its research. The company announced in the filing that it had raised its price target for CyberArk Software from $160.00 to $184.00 and that it rated the company as overweight. In a research note published Friday, August 12, Wolfe Research raised CyberArk Software to an outperform rating and raised its price target on the company from $155.00 to $180.00 in a research note. It was certainly not the last of the organization’s achievements. There were thirteen equity researchers who gave the company a buy rating, while only three insisted you keep it. The company’s current consensus rating on MarketBeat is “Moderate Buy”, and the company’s price target is now set at an average of $177.67.
In the most recent period, many hedge funds and other types of institutional investors have engaged in buying and selling transactions involving shares of CYBR. covestor ltd. invested around $73,000 to buy more of CyberArk Software during the first quarter, bringing the total spend to around $73,000. Eaton Vance Management increased the proportion of CyberArk Software controlled by 36.7% in the first three months of the year. Eaton Vance Management currently owns 1,230 shares of the technology company, which are worth about $207,000. Indeed, the company made an additional purchase of 330 shares during the above period in question. During the first three months of 2018, the British Columbia Investment Management Corp. increased its stake in CyberArk Software by 16.8%. The British Columbia Investment Management Corp now owns a total of 1,390 shares of the tech company’s stock, which is worth $235,000 after buying 200 more shares during the quarter. Wetherby Asset Management Inc. increased the percentage of CyberArk Software shares it held by 23.4% in the first three months. Wetherby Asset Management Inc. currently owns a total of 1,550 shares of the technology company following the purchase of an additional 294 shares during the quarter. The combined value of those 1,550 shares equals a total of $262,000 in today’s market.
Yousif Capital Management LLC spent nearly $293,000 to acquire an additional stake in CyberArk Software in the first three months of this year, which brings us to our final, most important point. A total of 88.36% of the company’s shares are held in institutional portfolios. Through its various activities, CyberArk Software Ltd. creates, manufactures and distributes software-based security products and services in various regions of the world, including the United States of America, Europe, the Middle East, Africa and other regions. As the first line of defense against privileged access attacks, Privileged Access Manager provides risk-based credential security and session management. Supplier: The combination of Privileged Access Manager with remote access enables Privileged Access Manager to give third-party suppliers access to privileged information in a simple, fast and secure way. Endpoint Privilege Manager and Cloud Entitlements Manager are examples of software delivered over the Internet as part of software as a service (SaaS). Endpoint Privilege Manager and Cloud Entitlements Manager are responsible for protecting privileges on the endpoint. The Cloud Entitlements Manager is also responsible for redeploying entitlements.