From Nasdaq: 2024-11-07 11:31:00

CyberArk Software Ltd. (CYBR) is set to report third-quarter 2024 results on Nov. 13, projecting revenues between $230 million and $236 million. The Zacks Consensus Estimate stands at $233.90 million, with a year-over-year growth of 22.31%. Non-GAAP earnings per share are forecasted to be between 38-49 cents, with a consensus mark of 45 cents per share, indicating a 7.14% improvement.

Factors to consider include the growing demand for cybersecurity solutions, driven by data breaches and digital transformations. The company’s shift towards subscription-based models is expected to drive top-line growth. However, budget cuts and macroeconomic challenges may impact growth in the quarter.

CyberArk anticipates a rise in Annual Recurring Revenues (ARR) driven by strong demand for its solutions, with Subscription expected to contribute $745.3 million and Maintenance and Professional Services $192.5 million. Despite challenges, the company continues to capitalize on the increasing need for cybersecurity solutions.

Our model does not predict an earnings beat for CYBR this season due to a neutral Earnings ESP despite a Zacks Rank #1. Investors may consider other companies like Shopify (SHOP), Bilibili (BILI), and NVIDIA (NVDA) for potential earnings beats based on their strong rankings and positive Earnings ESP.

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Read more at Nasdaq: CYBR to Report Q3 Earnings: What’s in the Cards for the Stock?