CyberArk Analysts Boost Their Forecasts After Upbeat Earnings

CyberArk Software Ltd (NASDAQ:CYBR) reported better-than-expected fiscal fourth-quarter results on Thursday.

The company posted revenue growth of 41% year-on-year to $314.40 million, beating the analyst consensus estimate of $301.31 million. The cybersecurity company posted an adjusted EPS of 80 cents, which beat the analyst consensus estimate of 72 cents.

“2024 was a milestone year for CyberArk. Our record performance in the fourth quarter and the year reflects the strength of demand for our identity security solutions and the consistent execution of our strategy,” said Matt Cohen, CyberArk’s Chief Executive Officer. “Total ARR reached $1.169 billion, driven by organic ARR crossing $1 billion and the outperformance from Venafi. With our strong revenue growth and free cash flow margin, we returned to Rule of 40 on a full year basis – beating our long-term ...

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