In a report released today, Shaul Eyal from TD Cowen reiterated a Buy rating on CyberArk Software (CYBR – Research Report), with a price target of $450.00.
Shaul Eyal has given his Buy rating due to a combination of factors that highlight CyberArk Software’s strategic positioning and growth potential. The company has demonstrated solid execution in expanding its platform and enhancing its go-to-market strategies, which include significant acquisitions like Venafi and Zilla. These efforts are aimed at addressing a substantial total addressable market of $80 billion, with a focus on machine identity and identity governance.
Furthermore, CyberArk’s financial targets are promising, with a notable increase in annual recurring revenue driven by platform expansion and a strong subscription model. The company’s outlook for 2028 includes a target of $2 billion in subscription revenue, reflecting a significant rise from previous years. Additionally, CyberArk is leveraging AI to enhance its product offerings and address emerging cybersecurity challenges, which positions it well for future growth. These factors collectively support Eyal’s Buy rating for CyberArk Software.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $450.00 price target.