The Petach Tikva, Israel, company expects adjusted earnings of 35 cents to 41 cents a share in the first quarter, compared with analysts’ average forecast of 56 cents, according to a Bloomberg-derived survey.
The company expects full-year 2020 adjusted earnings per share of $2.26 to $2.38, compared with analysts’ prediction of $2.75.
CyberArk projects first-quarter revenue of $106 million to $110 million, compared with analysts’ estimate of $113 million, Bloomberg reported.
The company did forecast full-year 2020 revenue of $511 million to $519 million, topping analysts’ projection of $509.9 million.
CyberArk’s fourth-quarter earnings beat analysts’ expectations, too. Adjusted earnings per share totaled 97 cents in the quarter, up from 89 cents a year earlier and above analysts’ forecast of 80 cents, according to Bloomberg.
Q4 revenue registered $129.7 million, up 19% from a year earlier and above analysts’ prediction of $126.2 million.
CyberArk CEO Udi Mokady said in a statement that the fourth quarter completed a year of strong growth "driven by disciplined investments.” The company signed nearly 300 new customers in the quarter, he said.
At last check CyberArk’s shares traded at $120.54, down 13%. Reflecting Wednesday’s drop, the stock has gained about a third over the past year. That compares with a 25% gain for the S&P 500 Index during that period.