What happened
Shares of CyberArk Software (NASDAQ: CYBR) leapt 18.4% last month, according to data provided by S&P Global Market Intelligence . The move furthered a sharp rise in the cybersecurity leader's stock price following its strong third-quarter earnings report.
So what
CyberArk crushed Wall Street's earnings estimates when i t report ed its Q3 financial results in November. The cybersecurity star saw its revenue climb 31% year over year to $84.7 million. That helped to drive a 100% increase in adjusted net income to $17.8 million, and a 92% rise in adjusted earnings per share to $0.48.
"We exceeded our financial outlook across all guided metrics, while generating record revenue and non- GAAP operating income in the third quarter," chairman and CEO Udi Mokady said in a press release.
CyberArk also boosted its full-year revenue and earnings forecast. The company now expects total revenue to grow 26% to as much as $330.4 million in 2018. Adjusted earnings per share, meanwhile, are projected to come in between $1.75 and $1.77.
Now what
With shares up another 2% so far in February, CyberArk's stock is now up more than 100% over the past year. Whether these impressive gains continue will likely be determined by the quality of CyberArk fourth-quarter financial results, which are scheduled to be released on Feb. 14.
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Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool recommends CyberArk Software. The Motley Fool has a disclosure policy .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
