On Nov 14, major Wall Street analysts update their ratings for $CyberArk (CYBR.US)$, with price targets ranging from $330 to $400.
Barclays analyst Saket Kalia maintains with a buy rating, and adjusts the target price from $330 to $335.
Wells Fargo analyst Andrew Nowinski maintains with a buy rating, and maintains the target price at $350.
TD Cowen analyst Shaul Eyal maintains with a buy rating, and adjusts the target price from $330 to $400.
Mizuho Securities analyst Gregg Moskowitz maintains with a buy rating.
Baird analyst Shrenik Kothari maintains with a buy rating, and maintains the target price at $355.
Furthermore, according to the comprehensive report, the opinions of $CyberArk (CYBR.US)$'s main analysts recently are as follows:
The company surpassed Q3 expectations for net new annual recurring revenue and increased its fiscal 2024 free cash flow projections.
CyberArk delivered 'another strong quarter' with performance surpassing expectations in Q3 ARR, revenue, and profitability. Despite the announcement of CFO Josh Siegel's departure at year-end, the anticipated smooth transition to the experienced SVP of IR and Finance, Erica Smith, keeps confidence intact. The company is expected to continue securing a widening customer base and capitalize on several long-term favorable trends.
The firm's assessment of CyberArk reflects a positive outlook after a noteworthy Q3 ARR performance and an optimistic Q4 organic projection. The analysis suggests there is additional potential and a beneficial competitive landscape in Privileged Access Management (PAM), and sees competitive advantages in secrets management with the recent Hashi acquisition. Moreover, there are prospects for enhancing security measures atop current SSO/MFA solutions. The firm anticipates that CyberArk could enhance Venafi's growth by utilizing its expanded go-to-market resources, coupled with industry momentum for TLS certificate management. Nonetheless, there remain concerns over the total addressable market (TAM) for certificate management, the synergies with Conjur, and the emerging competition from entities such as ServiceNow, public cloud providers, and others.
Post-market trading saw CyberArk's stock dip by around 1% despite the company reporting solid results. Following the completion of the Venafi acquisition, it is believed that the company is positioned to sustain low-20s Annual Recurring Revenue growth and a free cash flow margin that surpasses the Rule of 40.
CyberArk's third-quarter results were seen as robust amidst what has been described as a rather average earnings season in the security software sector. The company not only achieved its upside target but also raised its guidance organically. Analysts have expressed optimism regarding the company's discussions on workforce identity, secrets management, and the prospects of enhancing Venafi's growth in the upcoming year. It was noted that the organic projections for 2025 remain largely unaltered.
Here are the latest investment ratings and price targets for $CyberArk (CYBR.US)$ from 15 analysts:
Note:
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