BTIG Reiterates Buy Rating on CyberArk Software (CYBR)

BTIG analyst Gray Powell reiterated a Buy rating and $485.00 price target on CyberArk Software (NASDAQ: CYBR).

The analyst comments "We attended CYBR’s Investor Day in Boston on 2/24. Not surprisingly, the tone of the event was bullish. Most notably, CYBR highlighted targets for 2028 calling for annual ARR growth of 18%+ and FCF margins of 27% inside of a Rule of 45 framework. The company continues to see solid growth in its core PAM target market. However, CYBR provided statistics showing that products outside of PAM are now ~50% of subscription ARR and growing at an elevated rate. In addition, the company was visibly excited on the opportunity around Agentic AI. This is not factored into CYBR’s LT outlook and represents upside potential. And insights on the Zilla acquisition (IGA market) were compelling. Looking forward, we think CYBR’s long term targets will prove conservative and that the company can reasonably sustain growth in the low 20’s the next few years. Near term, we see a strong demand environment in 2025 across multiple components of the identity space where CYBR is focused. We also expect continued momentum and share gains in its core PAM market. Feedback on in our fieldwork on Secrets Management has been consistently good. And we like the opportunity around Venafi and machine identity. Reiterate Buy."

For an analyst ratings summary and ratings history on CyberArk Software click here. For more ratings news on CyberArk Software click here.

Shares of CyberArk Software closed at $374.73 yesterday.

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