Shares of digital identity security solutions provider CyberArk Software (NASDAQ:CYBR) are in the green today after the company posted an earnings beat for the fourth quarter. Revenue rose 11.8% year-over-year to $169.2 million but missed the cut by ~$4.9 million.
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EPS at $0.16 though came in ahead of expectations by $0.03. The company continues to see robust demand and a healthy bookings mix. For 2022, subscription revenue surged 108% to $280. 6 million and the total ARR increased by 45% to $570 million.
For Q1, CYBR expects revenue to range between $160 million and $164 million. Net loss per share is seen hovering between $0.30 and $0.23. Additionally, CYBR also announced a top leadership change. Beginning in April, the company’s current COO Matt Cohen will take over the CEO’s mantle. Its founder, CEO, and chairman Udi Mokady will remain as the Board’s Executive Chair.
Overall, Wall Street has a consensus price target of $166.83 on CYBR, implying an 11.79% potential upside in the stock. That’s on top of a 22.4% rise in the company’s share price over the past month.
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