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StockNews.com
StockNews.com
Business
Mangeet Kaur Bouns

Is CyberArk Software a Mid-Cap Stock to Secure Your Portfolio?

CyberArk Software Ltd. (CYBR), an Israel-based provider of cybersecurity solutions valued at $11.68 billion market cap, delivered solid financial results for the first quarter of 2024. The company reported a double-digit year-over-year growth in total revenue to $221.60 million, beating analysts’ estimate of $213.22 million. Its Subscription ARR growth was 54% from $403 million on March 31, 2023

Furthermore, CyberArk posted a first-quarter non-GAAP net income per share of $0.75, exceeding the analysts’ expectations of $0.27. Moreover, the company has surpassed consensus revenue and EPS estimates in all four trailing quarters, which is impressive.

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