CyberArk Software (CYBR) Q2 Earnings: What's In Store?
Zacks Investment Research | Aug 03, 2016 10:14PM ET
CyberArk Software, Ltd. (NASDAQ:CYBR) is set to report second-quarter 2016 results on Aug 9. Last quarter, the company posted a positive earnings surprise of 36.4%. Let’s see how things are shaping up for this announcement.
Factors to Consider
CyberArk is an Israeli company that specializes in protecting accounts from cyber-attacks. The company offers several products that protect passwords, close loopholes in the security system, and secure cloud-based assets.
The company reported better-than-expected first-quarter 2016 results. Also, revenues increased from the year-ago quarter, primarily due to high license growth.
According to research firm, Markets and Markets, the cyber security market is expected to touch $170.21 billion by 2020 from $106.32 billion in 2015, growing at an annual rate of 9.8%. We believe that CyberArk Software is in a favorable position to tap the opportunities.
Furthermore, investments in product suite and go-to-market are the other positives for the company.
It is worth mentioning that demand for cyber security is on the rise. With the advancement in technology, more organizations are adopting a bring-your-own-device policy, which has enhanced employee productivity with anytime, anywhere access. However, it has made it all the more necessary to enforce stricter data security measures.
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