Will CyberArk Software Ltd. Sink or Swim?
Shares of CyberArk (NASDAQ: CYBR) plunged 16% on July 14, after the cybersecurity firm reported preliminary second-quarter figures that missed its own guidance. CyberArk expects its revenue to rise just 13%-14% annually for the quarter, compared to its previous forecast for 21%-23% growth.
It expects flat to 5% growth in non-GAAP operating income, which also misses its forecast for 28%-38% growth. CyberArk mainly attributes those declines to a slowdown in the EMEA (Europe, Middle East, and Africa) region, where certain deals couldn't be closed on time.
Image source: Getty Images.
Source: Fool.com
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