CyberArk Sees FY24 Adj. EPS $2.17-$2.36 (Prior $1.88-$2.07) Vs $2.03 Estimate; Sees Revenue $932M-$942M (Prior $928M-$938M) Vs $935.1M Estimate
Portfolio Pulse from Benzinga Newsdesk
CyberArk has updated its financial guidance for FY24, projecting adjusted EPS between $2.17 and $2.36, up from the prior range of $1.88 to $2.07, and above the $2.03 estimate. Revenue is expected to be between $932M and $942M, slightly up from the prior range of $928M to $938M, and in line with the $935.1M estimate. The company also expects ARR to grow by 27% to 29% and non-GAAP free cash flow to be between $145M and $155M.
August 08, 2024 | 11:13 am
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CyberArk has raised its FY24 financial guidance, projecting higher adjusted EPS and revenue than previously expected. The new EPS range is $2.17-$2.36, up from $1.88-$2.07, and above the $2.03 estimate. Revenue is expected to be $932M-$942M, slightly up from the prior range and in line with the $935.1M estimate. ARR is expected to grow by 27%-29%, and non-GAAP free cash flow is projected to be $145M-$155M.
The raised guidance for both EPS and revenue, along with strong growth expectations for ARR and free cash flow, indicates a positive outlook for CyberArk. This is likely to boost investor confidence and positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100