From Nasdaq:

CyberArk Software is the Bull of the Day, having reported four consecutive quarters of positive surprises, with its 72% EPS beat for Q4. The company’s 2024 Revenue is projected to increase by 23% to $926 million, with an EPS increase of 55% to $1.74. CyberArk is poised for continued growth.

Annual Recurring Revenues for CyberArk increased 36% to $774 million, with the subscription portion soaring 60% year over year to $582 million. This growth is driven by record software-as-a-service bookings and strong demand for on-premise subscription offerings. With nearly 10% of revenues recurring in nature, CyberArk is showing strong, consistent growth.

Gartner, the Bear of the Day, surpassed Q4 earnings and revenue estimates but delivered below-consensus guidance. As a result, analysts have been lowering estimates for this year and next. Gartner’s revenue reached $6 billion for the first time in 2023, and its client base includes over 10,000 organizations in over 90 countries, served by 19,500 employees located in 85 offices worldwide.

The company is facing a mixed Q4 report, with above-consensus performance in Research and Conferences, but below-consensus guidance for 2024. IT shares are due for a pause after strong performance in the AI-SOFTOSPHERE over the past three years. Investors are advised to keep an eye on the Zacks Rank to help gauge future performance and estimate stability.



Read more: CyberArk and Gartner have been highlighted as Zacks Bull and Bear of the Day