CyberArk Software (CYBR – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Gray Powell from BTIG maintained a Buy rating on the stock and has a $485.00 price target.
Gray Powell has given his Buy rating due to a combination of factors that highlight CyberArk Software’s promising growth potential. The feedback from the Impact 25 user conference was notably positive regarding CyberArk’s product roadmap, particularly their new Identity Governance and Administration (IGA) capabilities and the momentum in Secrets Management. These developments are expected to significantly contribute to the company’s growth, with the IGA product potentially adding substantial annual recurring revenue in the coming years.
Furthermore, the anticipation of CyberArk’s involvement in securing Agentic AI presents a future growth catalyst, with a product version expected in the latter half of 2025. Despite broader market uncertainties affecting security spending, CyberArk’s strong secular drivers and compelling valuation position it well to exceed street estimates. The company’s sustainable long-term growth prospects and attractive free cash flow margins further support the Buy rating.
According to TipRanks, Powell is a 5-star analyst with an average return of 7.1% and a 50.47% success rate. Powell covers the Technology sector, focusing on stocks such as CyberArk Software, Zscaler, and SentinelOne.
In another report released today, Barclays also maintained a Buy rating on the stock with a $450.00 price target.