Why Cyberark Software Ltd. Stock Jumped 11.1% Today
Shares of Cyberark Software (NASDAQ: CYBR) closed Thursday's trading 11.1% higher, having jumped as much as 12.4% higher earlier in the day. The Israel-based network security specialist reported third-quarter results early in the morning, exceeding Wall Street's projections across the board.
Cyberark's third-quarter sales rose 18% year over year, stopping at $64.8 million; analysts would have settled for $63 million. On the bottom line, adjusted earnings fell from $0.33 to $0.25 per diluted share -- but the Street was only expecting a $0.19 profit per share.
Looking ahead, management expects fourth-quarter revenues to land near $76 million while adjusted earnings should stop near $0.36 per share. Achieving these targets would match Wall Street's current view of the fourth quarter.
Source: Fool.com
