Analyst Brian Essex from J.P. Morgan maintained a Buy rating on CyberArk Software (CYBR – Research Report) and increased the price target to $443.00 from $431.00.
Brian Essex has given his Buy rating due to a combination of factors that highlight CyberArk Software’s strong market position and growth potential. The company has demonstrated exceptional execution, achieving over $1 billion in annual recurring revenue (ARR) with a growth rate exceeding 30% year-over-year. This is complemented by significant operating margin expansion and improving free cash flow, which underscores its financial robustness.
CyberArk’s strategic guidance for the mid-term, including targets for FY28, suggests a conservative yet promising framework for profitable growth. The company’s exploration of opportunities in adjacent markets, such as Machine Identity and Identity Governance and Administration (IGA), further enhances its potential for expansion. Essex remains optimistic about CyberArk’s ability to capitalize on the increasing demand for identity solutions, positioning it as a leading vendor in the sector.
According to TipRanks, Essex is a 5-star analyst with an average return of 11.5% and a 56.56% success rate. Essex covers the Technology sector, focusing on stocks such as International Business Machines, CyberArk Software, and Okta.