FMP
CyberArk Software Gains 7% Following Earnings Report
Feb 8, 2024 7:17 PM - Davit Kirakosyan(Last modified: Feb 9, 2024 1:15 AM)
Image credit: FMP
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.
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