CyberArk shares drop as outlook falls short of Street view
CyberArk Software Ltd. shares fell in the extended session Thursday after the security-software company forecast earnings below the Wall Street view and announced the acquisition of a smaller security-software company. CyberArk shares fell 7.2% to $51.20 after hours. The company forecast adjusted second-quarter earnings of 23 cents to 25 cents a share on revenue of $61 million to $62 million. Analysts surveyed by FactSet had estimated 27 cents a share on revenue of $62.5 million. For the first quarter, CyberArk reported adjusted first-quarter earnings of 28 cents a share on revenue of $59 million, while analysts expected 22 cents a share on revenue of $57.8 million. CyberArk said it paid $42 million cash to acquire privately-held Newton, Mass.-based Conjur Inc.
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