In a report released today, Madeline Brooks from Bank of America Securities maintained a Buy rating on CyberArk Software (CYBR – Research Report), with a price target of $500.00.
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Madeline Brooks’s rating is based on CyberArk Software’s strategic positioning in the rapidly expanding cybersecurity market, particularly in areas like AI security and cloud security. The company’s recent announcements at their user conference, including advancements in securing machine identities and the acquisition of Zilla for modernized IGA functionalities, highlight its commitment to innovation and addressing emerging security needs.
CyberArk’s approach allows it to capture market growth by enhancing its offerings with privilege identity functionality, thereby expanding its total addressable market significantly. The increasing demand for privileged access across both human and machine identities, coupled with CyberArk’s unique AI security solutions, positions the company well for sustained growth. These factors, along with strong industry tailwinds, support Brooks’s confidence in maintaining a Buy rating with a price objective of $500.
In another report released today, Barclays also maintained a Buy rating on the stock with a $450.00 price target.