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Why CyberArk Software Shot Almost 9% Higher Today

TheMotleyFool

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Why CyberArk Software Shot Almost 9% Higher TodayPhoto, wide shot, wide-angle lens, Cloud computing provider, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/8d7b6619-8b3b-4e9e-b659-68643d72528e.png

On a down day for the broader market, CyberArk Software (NASDAQ: CYBR) was a big winner. The cybersecurity-company's stock zoomed 8.5% skyward, on the back of results that trounced estimates.

CyberArk unveiled its figures for the last quarter of 2021. Total revenue rose to $151.3 million from the year-ago result of $144.5 million. It also well exceeded the average analyst estimate of just under $144.7 million. The main driver of the company's top-line growth was subscription revenue, which more than doubled to almost $48 million for the quarter.

Image source: Getty Images.

Source Fool.com

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