Shrenik Kothari, an analyst from Robert W. Baird, maintained the Buy rating on CyberArk Software (CYBR – Research Report). The associated price target remains the same with $465.00.
Shrenik Kothari has given his Buy rating due to a combination of factors that highlight CyberArk Software’s strategic positioning and growth potential. The company’s platform strategy and product roadmap are well-aligned with emerging trends such as the growth of non-human identities and AI adoption, which are expected to drive future demand. CyberArk’s unified platform offers comprehensive security solutions for all types of identities, distinguishing it from competitors that offer point solutions.
Additionally, CyberArk’s strategic partnerships, such as the integration with Accenture’s AI Refinery platform, enhance its market reach and validate its relevance in AI ecosystems. The company’s recent acquisitions, including Venafi and Zilla Security, have expanded its total addressable market and created new cross-selling opportunities. These factors, combined with positive anecdotal feedback from partners and early customer demand for new solutions, underpin Kothari’s confidence in CyberArk’s ability to capitalize on the convergence of cybersecurity and identity management.
Kothari covers the Technology sector, focusing on stocks such as Check Point, CyberArk Software, and Tenable Holdings. According to TipRanks, Kothari has an average return of 23.1% and a 69.86% success rate on recommended stocks.