What: Shares of CyberArk Software (NASDAQ:CYBR) rose 11.2% last month, according to data provided by S&P Global Market Intelligence. The cyberattack-prevention specialist is enjoying strong demand for its “privileged account” security solutions, which help to protect against the most-advanced cyberthreats — those that use insider privileges to penetrate network perimeters and attack the most-vital aspects of an enterprise’s IT infrastructure.
So what: CyberArk surpassed Wall Street’s expectations when it reported first-quarter results on May 5th. Revenue jumped 43% year over year, to $46.9 million, and adjusted earnings per share leapt 44%, to $0.23. That topped analysts’ estimates for revenue of $43.4 million and adjusted EPS of $0.16.
Even better, management boosted its full-year forecast, with 2016 revenue and adjusted EPS now projected to be in the ranges of $209 million to $211 million, and $0.87 to $0.91 respectively, compared to CyberArk’s prior guidance of $205 million to $207 million, and $0.83 to $0.86. Wall Street cheered these strong results, and several companies raised their ratings and price targets for CyberArk’s stock. For the full article click here
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