Joseph Gallo, an analyst from Jefferies, reiterated the Buy rating on CyberArk Software (CYBR – Research Report). The associated price target remains the same with $475.00.
Joseph Gallo has given his Buy rating due to a combination of factors that highlight CyberArk Software’s potential for growth and market positioning. The company is well-positioned in the Privileged Access Management (PAM) sector and is expanding its platform to include machine identity, modern Identity Governance and Administration (IGA), and agentic AI, which are seen as significant growth opportunities. CyberArk’s 2028 guidance projects an 18% compound annual growth rate in annual recurring revenue, reaching $2.3 billion, and $600 million in free cash flow, reinforcing confidence in its financial trajectory.
Furthermore, CyberArk is considered one of the few cybersecurity vendors with a clear path to monetizing machine and agentic identity in the near term, providing potential upside to its 2025 guidance. The company’s focus on becoming the identity platform of choice, coupled with its enterprise entrenchment in PAM, gives it a competitive advantage. Additionally, CyberArk’s workforce solutions are gaining traction, with a notable year-over-year growth in workforce annual recurring revenue, further supporting its Buy rating.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $443.00 price target.