Fatima Boolani, an analyst from Citi, reiterated the Buy rating on CyberArk Software (CYBR – Research Report). The associated price target was raised to $450.00.
Fatima Boolani has given her Buy rating due to a combination of factors that highlight CyberArk Software’s potential for growth and profitability. The company presented realistic and achievable financial targets for the future, which, although modest in terms of topline growth, are complemented by strong operational and free cash flow margins. This balance suggests a solid financial foundation that supports the Buy recommendation.
Furthermore, CyberArk’s strategic focus on expanding its seat-based model and capitalizing on its core product offerings positions it well for capturing a larger share of the total addressable market. The company’s emphasis on renewals and its successful inbound lead generation efforts under new leadership also contribute to its growth prospects. These elements, combined with management’s consistent execution and the company’s robust demand environment, reinforce the positive outlook on CyberArk’s stock.
In another report released on February 28, JMP Securities also reiterated a Buy rating on the stock with a $480.00 price target.
CYBR’s price has also changed moderately for the past six months – from $279.950 to $363.850, which is a 29.97% increase.