CyberArk Software (CYBR) PT Lowered to $425 at BTIG

BTIG analyst Gray Powell lowered the price target on CyberArk Software (NASDAQ: CYBR) to $425.00 (from $485.00) while maintaining a Buy rating.

The analyst comments "CYBR delivered solid Q1 results and maintained its ARR outlook for 2025. Most notably, CYBR posted Q1 ARR of $1,215MM / +28% y/y (organic) vs our estimate of $1,211MM and the Street at $1,202MM. In addition, operating income and FCF came in substantially above Street expectations. Looking forward, the midpoint of CYBR’s 2025 outlook was unchanged and calls for ARR of $1,415MM / +21% y/y. All in, we thought it was a good print. Upside on ARR vs Street was the best CYBR has posted in two years. Commentary on the macroeconomic, pipeline and close rates was all encouraging. And by not passing through the Q1 beat to ARR, CYBR is effectively reducing the risk in its ARR guidance for the rest of the year. Ultimately, we think CYBR should be able to grow ARR at a 23% pace this year vs guidance at 21%. Reiterate Buy."

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