Cyberark Falls 10% After Q1 Beat Trumped By Lower Guidance

Cyberark Software Ltd (NASDAQ:CYBR) shares are trading lower by $6.00 at $49.15 in Friday's session.

After Thursday's close, the company announced a Q1 EPS beat of 5 cents along with a sales beat of $1.2 million. However, the report was accompanied by lower Q2 EPS and sales guidance and mixed FY 2017 guidance.

After a much lower open, Cyberark managed just a 13-cent bounce to $50.13 before continuing its mover lower. So far, the ensuing decline has taken the stock to $48.55, but rebounded back into the $49.00 handle. The current low coincides with its March 28 low of $48.24.