Cyberark Software Ltd Stock Price, News & Analysis

CyberArk (NASDAQ: CYBR) announced significant enhancements to its Identity Security Platform, aimed at securing high-risk access in cloud and hybrid environments. The updates focus on a Zero Trust approach to identity security, a crucial aspect as identity-related breaches are prevalent. New offerings include CyberArk Dynamic Privileged Access, Secure Web Sessions, and Lifecycle Management for Privileged Users. These innovations are designed to streamline operations and enhance security, aligning with the increasing demand for robust identity management solutions.

CyberArk (NASDAQ: CYBR) has announced an expanded distributor agreement with SYNNEX Corporation to enhance the distribution of its Identity Security portfolio in the U.S. and Canada. This partnership focuses on Privileged Access Management solutions, aiming to secure identities accessing critical assets. The agreement builds on an existing relationship in Latin America and is expected to strengthen the security posture of end-user organizations. The CyberArk Partner Network plays a crucial role in delivering these solutions globally.

CyberArk (NASDAQ: CYBR) announced it will webcast presentations at two key virtual conferences. The first is the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 24, 2021, at 10:15 a.m. EDT. The second is the William Blair 41st Annual Growth Stock Conference on June 1, 2021, at 9:00 a.m. EDT. The presentations will be archived and available on their investor relations website, ensuring access to insights on their Identity Security solutions for stakeholders.

CyberArk (NASDAQ: CYBR) reported strong financial results for Q1 2021, marking a significant transition to a recurring revenue model. Key metrics include a 180% increase in subscription revenue, totaling $24.7 million, and total revenue of $112.8 million. The company's Annual Recurring Revenue (ARR) grew by 41%, reaching $288 million. Despite a GAAP net loss of $(15.2) million, CyberArk expects to maintain growth momentum, projecting total revenue between $484 million and $496 million for 2021. The financial health remains strong with $1.2 billion in cash and equivalents.

CyberArk (NASDAQ: CYBR) will announce its first quarter 2021 financial results on May 5, 2021, before U.S. markets open. A conference call will take place at 8:30 a.m. Eastern Time, where the company will discuss its financial performance and business outlook. Investors can join the call by dialing +1 (833) 968-2251 for the U.S. and +1 (778) 560-2670 internationally. A live webcast will also be accessible on the company's website. A replay of the call will be available for one week post-event.

CyberArk (NASDAQ: CYBR) has appointed Avril England to its board of directors, enhancing its leadership in the Identity Security sector. England brings extensive experience in product management and marketing, having previously worked at Veeva Systems, where she led the Veeva Vault platform’s growth to over 50% of the company’s revenues. Her expertise in high-growth SaaS businesses aligns with CyberArk's strategic shift towards a subscription model. CEO Udi Mokady expressed confidence in England's operational insight as pivotal for CyberArk's future developments.

CyberArk (NASDAQ: CYBR) announced a virtual Investor Day scheduled for March 10, 2021, from 10:00 a.m. to 12:45 p.m. EST. During this event, CyberArk executives will present insights on the company's Identity Security platform, subscription transition strategy, market dynamics, and go-to-market approach. The event will be live-streamed and archived on the company's website for later viewing. Registration details are available via the Investor Relations website.