Why CyberArk Stock Fell 14% Today
Shares of CyberArk (NASDAQ: CYBR) plunged nearly 14% on Wednesday, following the release of the cybersecurity leader's fourth-quarter results.
CyberArk's revenue jumped 19% year over year to $129.7 million. That was slightly above Wall Street's expectations for revenue of $126.2 million. The gains were driven by a 15% rise in license revenue, to $76.5 million, and a 26% increase in maintenance and professional services revenue, to $53.1 million.
CyberArk's fourth-quarter earnings also came in nicely above analysts' estimates. Non-GAAP (adjusted) net income rose 13% to $37.8 million, or $0.97 per share, besting the consensus forecast for adjusted earnings per share (EPS) of $0.80.
Source Fool.com
