Quantcast

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


Shutterstock photo

Top Tech Stocks

MSFT +1.31%

AAPL -0.28%

IBM -0.28%

CSCO -0.77%

GOOG +0.20%

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.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



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



More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities










Research Brokers before you trade

Want to trade FX?