Business Corpus: CyberArk Earnings, Guidance Top Expectations, Cybersecurity Stock JumpsCyberArk third-quarter earnings and revenue beat estimates, while guidance topped Wall Street targets. The CyberArk earnings news sent shares in the cybersecurity firm up on Wednesday The post CyberArk Earnings, Guidance Top Expectations, Cybersecurity Stock Jumps appeared first on Investor's Business Daily.

CyberArk Earnings, Guidance Top Expectations, Cybersecurity Stock Jumps
CyberArk third-quarter earnings and revenue beat estimates, while guidance topped Wall Street targets. The CyberArk earnings news sent shares in the cybersecurity firm up on Wednesday

The post CyberArk Earnings, Guidance Top Expectations, Cybersecurity Stock Jumps appeared first on Investor's Business Daily.

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CyberArk Software (CYBR) earnings and revenue for the third quarter beat estimates, while company guidance topped Wall Street targets. The CyberArk earnings news sent shares in the cybersecurity firm surging on Wednesday.

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CyberArk said adjusted earnings were 65 cents a share, up 35% from a year earlier, with revenue rising 28% to $108.1 million. A year earlier, CyberArk earnings were 48 cents a share on sales of $84.6 million.

Analysts expected CyberArk earnings of 47 cents a share on sales of $103 million for the period ended Sept. 30.

CyberArk stock jumped 9.8% near 117.05 in morning trades on the stock market today. CyberArk stock had retreated from an all-time high of 148.74 in intraday trading on July 26.

Earnings Forecast Ahead Of Views

For the current quarter ending in December, CyberArk forecast profit of 80 cents a share at the midpoint of its forecast range on revenue of $126 million. Analysts had projected CyberArk earnings of 68 cents a share with sales at $124 million.

Hackers often aim to compromise networks by targeting employees or management with administrative access to company computer systems. CyberArk's software monitors and manages privileged accounts.

IBD's Computer-Software Security group ranks No. 184 out of 197 industry groups. Fortinet (FTNT) has the highest IBD Composite Rating in the group.

Fortinet ranks No. 20 in the IBD 50 roster of fast growing companies. Learn more at IBD Stock Checkup.

Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.

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The post CyberArk Earnings, Guidance Top Expectations, Cybersecurity Stock Jumps appeared first on Investor's Business Daily.

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