Why CyberArk Software Ltd. Stock Dropped 16.6% in July

Shares of CyberArk Software Ltd. (NASDAQ: CYBR) fell 16.6% in July, according to data from S&P Global Market Intelligence, after the company announced disappointing second-quarter 2017 results.

Nearly all of CyberArk's decline last month came on July 14, when the company issued a press release detailing its preliminary performance for the period ended June 30. When all was said and done and CyberArk announced its final figures on Aug. 8, it confirmed that second-quarter revenue had climbed 14.1% year over year to $57.5 million -- well below its previous guidance for revenue in the range of $61 million to $62 million. On the bottom line, adjusted net income declined to $7.7 million, or $0.21 per share, compared with net income of $10.5 million, or $0.29 per share, in the same year-ago period.

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Source: Fool.com