CyberArk Analysts Boost Their Forecasts After Upbeat Results
Portfolio Pulse from Lisa Levin
CyberArk Software Ltd (NASDAQ:CYBR) posted better-than-expected Q3 results, with a YoY revenue growth of 25% to $191.2 million, beating the consensus of $184.7 million. The company also raised its FY23 revenue and EPS outlook. Following the earnings announcement, several analysts including Keybanc, Morgan Stanley, Wedbush, and Stephens & Co. increased their price targets on CyberArk.
November 03, 2023 | 4:33 pm
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POSITIVE IMPACT
CyberArk's better-than-expected Q3 results and raised FY23 outlook have led to increased price targets by several analysts. This positive sentiment could potentially drive the stock price up in the short term.
CyberArk's Q3 results exceeded expectations, and the company raised its FY23 outlook, which is a positive signal to investors. This has led to increased price targets by several analysts, indicating a positive sentiment towards the stock. This could potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100