Robert W. Baird analyst Shrenik Kothari maintained a Buy rating on CyberArk Software (CYBR – Research Report) today and set a price target of $450.00.
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Shrenik Kothari’s rating is based on CyberArk Software’s impressive financial performance and strategic positioning in the market. The company reported a robust annual recurring revenue (ARR) growth of 50%, surpassing market expectations by approximately $13 million. This growth was driven by strong cross-selling dynamics, particularly from recent acquisitions, and highlights the effectiveness of CyberArk’s platform strategy centered around identity security.
Additionally, CyberArk’s subscription revenues increased by over 60% year-over-year, and the company’s operating margin and free cash flow exceeded consensus estimates. The positive outlook is further supported by the company’s raised revenue and operating income guidance for the fiscal year 2025. These factors collectively underpin Kothari’s Buy rating, reflecting confidence in CyberArk’s continued growth and market leadership.
In another report released today, Rosenblatt Securities also reiterated a Buy rating on the stock with a $445.00 price target.