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IT Security Peers Retreat After CyberArk Warning

The shares of the number of IT security stocks are declining after one of the names in the sector, CyberArk (CYBR), issued a negative pre-announcement last night. Analysts had mixed views on CyberArk following its results, as some downgraded the shares while other defended the stock.

PRE-ANNOUNCEMENT: CyberArk lowered its revenue view for Q2 to a range of $57M- $57.5M from its prior view of $61M-$62M. Analysts were expecting $61.94M. The company expects license revenue in the range of $30M-$30.5M and operating income of $8.5M-$8.9M. The company blamed the shortfall on its failure to close a number of deals in its Europe, Middle East, Africa region.