Why CyberArk Stock Jumped Today
Shares of CyberArk (NASDAQ: CYBR) popped on Wednesday after the cybersecurity specialist's third-quarter sales and profits surpassed Wall Street's expectations. As of 3 p.m. EST today, the stock was up 9%.
CyberArk's license revenue climbed 25% year over year to $57.9 million, while its maintenance and professional services revenue rose 30% to $50.2 million. Together, that drove a 28% rise in total revenue, to $108.1 million. Analysts had expected revenue of only $103 million.
CyberArk's non-GAAP (adjusted) operating income surged 40% to $29.4 million. Its non-GAAP net income, meanwhile, soared 44% to $25.6 million, or $0.65 per share. That, too, was well above analysts' estimates, which had called for adjusted EPS of $0.47.
Source Fool.com
