CyberArk Software Gets Price Target Hikes By Analysts After Q1 Results

CyberArk Software Ltd CYBR reported a narrower-than-expected loss for its first quarter.

CyberArk Software reported first-quarter FY23 revenue growth of 27% year-on-year to $161.7 million, missing the consensus of $162.5 million. Non-GAAP EPS loss of $(0.17) beat the consensus loss of $(0.26).

CyberArk raised the non-GAAP EPS outlook to $0.16 - $0.38, up from $0.07 - $0.28 versus the consensus of $0.16.

CyberArk shares rose 3.9% to close at $142.71 on Thursday and lost 0.4% in after-hours trading.

These analysts made changes to their price targets on CyberArk following earnings announcement.

• Needham raised the price target on CyberArk from $180 to $185. Needham analyst Alex Henderson maintained a Buy rating.
• Barclays increased the price target on CyberArk from $175 to $178. Barclays analyst Saket Kalia maintained an Overweight rating
• Rosenblatt analyst Catharine Trebnick, meanwhile, reiterated CyberArk Software with a Buy and maintained a $175 price target.

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