CyberArk Enjoys Strong Earnings Beat: 'Identity Security Platform Gains Momentum,' CEO Says
Portfolio Pulse from Anusuya Lahiri
CyberArk Software Ltd reported Q3 revenue growth of 25% YoY to $191.2 million, beating the consensus of $184.7 million. The company posted an adjusted EPS of $0.42, surpassing the consensus of $0.23. Revenues from Subscriptions expanded 65% YoY to $122.9 million. The company ended the quarter with $1.2 billion in cash and equivalents. CyberArk expects Q4 revenue of $206.5 million - $211.5 million and an adjusted EPS of 41 cents - 50 cents. The company also raised the FY23 ARR outlook to $758 million - $768 million.
November 02, 2023 | 2:42 pm
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POSITIVE IMPACT
CyberArk's strong Q3 earnings and positive outlook for Q4 and FY23 could boost investor confidence and potentially drive the stock price up.
CyberArk's Q3 earnings beat the consensus, indicating strong performance. The company's positive outlook for Q4 and FY23, including increased revenue and EPS, suggests continued growth. This could increase investor confidence and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100