CyberArk Software (CYBR) PT Raised to $475 at DA Davidson

DA Davidson analyst Rudy Kessinger raised the price target on CyberArk Software (NASDAQ: CYBR) to $475.00 (from $390.00) while maintaining a Buy rating.

The analyst comments "CYBR delivered yet another strong beat & guided CY25 ahead on all fronts. ARR was nicely ahead of cons. & organic standalone CYBR ARR growth was +30% Y/Y. Venafi exceed expectations on metrics as well. Platform momentum continues to gain traction, with a number of large, 7-figure platform deals called out as well as a record qtr. for Secrets. CYBR also acquired IGA startup Zilla Security, adding the last missing piece of the puzzle to their already market leading identity security platform. CY25 ARR guidance of +21% Y/Y appears conservatively set & we see 23%+ as likely. We remain BUY rated: raising PT from $390 to $475."

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