We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CyberArk (CYBR) to Report Q3 Earnings: What's in Store?
Read MoreHide Full Article
CyberArk Software Ltd. (CYBR - Free Report) is set to report third-quarter 2019 results on Nov 6.
For the quarter, the company expects revenues in the range of $102-$104 million, suggesting 20-23% growth from the year-ago reported figure. The Zacks Consensus Estimate is pegged at $103 million.
The company expects non-GAAP earnings per share to be 45-48 cents. The consensus estimate for earnings stands at 47 cents per share, suggesting 2.08% decline from the year-ago reported number.
The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average positive surprise being 47.69%.
In the last reported quarter, CyberArk’s non-GAAP earnings per share of 56 cents surpassed the Zacks Consensus Estimate of 47 cents and was higher than the year-ago quarter figure of 36 cents.
CyberArk’s revenues jumped 29% year over year to $100.2 million, and beat the consensus estimate of $97.21 million.
Strong revenue growth across all its geographical regions drove the top line. Increasing demand for privileged access security on the back of digital transformation and cloud migration strategies was a key growth driver.
CyberArk is benefiting from improving customer accounts, driven by increasing demand for Privileged Access Security on the back of digital transformation and cloud migration strategies. This is expected to have boosted revenues in the to-be-reported quarter.
Growing traction of Endpoint Privilege Manager within customers of all sizes and across industries is likely to have remained a tailwind.
Moreover, a large chunk of CyberArk’s current customer base belongs to the mid-market, prompting the company to focus on expanding its presence among small and medium-sized businesses. Initiatives taken earlier this year to formalize mid-market sales motion are expected to get reflected positively in third quarter top-line results.
The company’s expertise in securing multiple public clouds, which include Alphabet’s (GOOGL - Free Report) Google Cloud Platform and AWS, might also have been a tailwind.
Moreover, in the last reported quarter, CyberArk expanded its relationship with Microsoft (MSFT - Free Report) by joining the Microsoft Intelligent Security Association to deliver greater flexibility and efficiency for securing privileged access. This key partnership is expected to have positively impacted customer experience and possibly driven customer wins in the quarter to be reported.
However, an increase in expenses due to seasonal employee expenses and the marquee Americas customer event might have been an overhang in the third quarter.
Further, investments in business, and high expenses related to marketing programs and seasonal employee expenses are likely to have kept margins under pressure.
Moreover, intense competition from the likes of International Business Machines Corporation (IBM - Free Report) in the access and identity management market might have been a headwind.
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Image: Bigstock
CyberArk (CYBR) to Report Q3 Earnings: What's in Store?
CyberArk Software Ltd. (CYBR - Free Report) is set to report third-quarter 2019 results on Nov 6.
For the quarter, the company expects revenues in the range of $102-$104 million, suggesting 20-23% growth from the year-ago reported figure. The Zacks Consensus Estimate is pegged at $103 million.
The company expects non-GAAP earnings per share to be 45-48 cents. The consensus estimate for earnings stands at 47 cents per share, suggesting 2.08% decline from the year-ago reported number.
The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average positive surprise being 47.69%.
In the last reported quarter, CyberArk’s non-GAAP earnings per share of 56 cents surpassed the Zacks Consensus Estimate of 47 cents and was higher than the year-ago quarter figure of 36 cents.
CyberArk’s revenues jumped 29% year over year to $100.2 million, and beat the consensus estimate of $97.21 million.
Strong revenue growth across all its geographical regions drove the top line. Increasing demand for privileged access security on the back of digital transformation and cloud migration strategies was a key growth driver.
CyberArk Software Ltd. Price and EPS Surprise
CyberArk Software Ltd. price-eps-surprise | CyberArk Software Ltd. Quote
Factors at Play
CyberArk is benefiting from improving customer accounts, driven by increasing demand for Privileged Access Security on the back of digital transformation and cloud migration strategies. This is expected to have boosted revenues in the to-be-reported quarter.
Growing traction of Endpoint Privilege Manager within customers of all sizes and across industries is likely to have remained a tailwind.
Moreover, a large chunk of CyberArk’s current customer base belongs to the mid-market, prompting the company to focus on expanding its presence among small and medium-sized businesses. Initiatives taken earlier this year to formalize mid-market sales motion are expected to get reflected positively in third quarter top-line results.
The company’s expertise in securing multiple public clouds, which include Alphabet’s (GOOGL - Free Report) Google Cloud Platform and AWS, might also have been a tailwind.
Moreover, in the last reported quarter, CyberArk expanded its relationship with Microsoft (MSFT - Free Report) by joining the Microsoft Intelligent Security Association to deliver greater flexibility and efficiency for securing privileged access. This key partnership is expected to have positively impacted customer experience and possibly driven customer wins in the quarter to be reported.
However, an increase in expenses due to seasonal employee expenses and the marquee Americas customer event might have been an overhang in the third quarter.
Further, investments in business, and high expenses related to marketing programs and seasonal employee expenses are likely to have kept margins under pressure.
Moreover, intense competition from the likes of International Business Machines Corporation (IBM - Free Report) in the access and identity management market might have been a headwind.
CyberArk currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our just-released Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
Download Free Report Now >>