Overview

* CyberArk Q2 revenue rises 46% yr/yr, beating analyst expectations

* GAAP net loss widens due to one-time tax payment related to Venafi acquisition

* Co to be acquired by Palo Alto Networks ( PANW ) in a $25 bln deal

* Palo Alto to pay $45 cash and 2.2005 in stock for each CyberArk share

Outlook

* CyberArk withdraws financial guidance due to pending acquisition by Palo Alto Networks ( PANW )

Result Drivers

* IDENTITY SECURITY DEMAND - Strong demand for identity security solutions drove revenue growth, per CEO Matt Cohen

* ACQUISITIONS - Revenue growth includes contributions from Venafi and Zilla Security acquisitions

* SUBSCRIPTION REVENUE - Subscription revenue increased 66% yr/yr, reflecting shift towards recurring revenue models

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $328.03 $315.90

Revenue mln mln (32

Analysts

)

Q2 Net Miss -$90.83 $41 mln

Income mln (32

Analysts

)

Q2 Miss -$35.82 $45.40

Operatin mln mln (32

g Income Analysts

)

Q2 Gross $247.48

Profit mln

Q2 $283.30

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 38 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy"

* Wall Street's median 12-month price target for Cyberark Software Ltd is $447.50, about 2.9% above its July 29 closing price of $434.48

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)