Citi analyst Fatima Boolani maintains $CyberArk (CYBR.US)$ with a buy rating, and adjusts the target price from $310 to $355.
According to TipRanks data, the analyst has a success rate of 65.5% and a total average return of 17.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $CyberArk (CYBR.US)$'s main analysts recently are as follows:
Following a quarter of notable outperformance, expectations continue to be high for CyberArk. Despite a sentiment that the stock's valuation is demanding, there remains confidence in CyberArk's sustained capacity to deliver robust results. Forecasts have been updated to incorporate the company's latest guidance, which now accounts for the finalization of the Venafi acquisition.
The company surpassed Q3 expectations in net new annual recurring revenue and increased its projection for fiscal 2024 free cash flow, as reported by an analyst.
The company's third-quarter performance was marked by an increase in subscription and overall revenue, as well as the completion of the Venafi acquisition. There are several positive aspects to note, and there is anticipation for the potential cross-selling opportunities that Venafi presents.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
