Technology Sector Update for 05/12/2017: CYBR,TTD,UNXL

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Technology stocks have turned slightly lower Friday afternoon, with shares of tech companies in the S&P 500 declining about 0.1%.

In company news, CyberArk Software ( CYBR ) stumbled Friday, with shares of the cyber-security company falling as much as 12% to a session low today of $48.55 a share after announcing its purchase of privately held security software firm Conjur Inc for $42 million in cash.

Also weighing on the stock price today was the company late Thursday forecasting Q2 financial results and FY17 earnings trailing analyst estimates, upstaging better-than-expected Q1 results.

The company is projecting non-GAAP earnings for the current quarter in a range of $0.23 to $0.25 per share, lagging the Capital IQ consensus by at least $0.02 per share. It also sees Q2 revenue coming in between $61 million to $62 million, also missing the $62.44 million Street view.

For FY17, Cyberark is expecting adjusted non-GAAP net income of $1.18 to $1.22 on between $268.5 million to $271.5 million in revenue. That compares with the analyst mean looking for $1.24 per share in adjusted FY17 earnings on $268.8 million in revenue.

In other sector news,

(+) TTD, (+29.9%) Adjusted Q1 EPS of $0.18 beats Street view looking for a break-even quarter. Revenue rises 75.7% over year-ago levels to $53.4 mln, easily exceeding $43.3 mln consensus. Q2 revenue tops analyst mean. Raises FY17 revenue guidance above consensus.

(-) UNXL, (-20.7%) Q1 net loss of $0.15 per share is $0.04 wider than the two-analyst estimate expecting a $0.11 per share loss. Revenue climbs 44.4% over year-ago period to $1.3 mln, trailing the $1.8 mln consensus.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Technology , Commodities
Referenced Symbols: CYBR , TTD ,

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