CyberArk Software (CYBR) PT Raised to $407 at BTIG

BTIG analyst Gray Powell raised the price target on CyberArk Software (NASDAQ: CYBR) to $407.00 (from $351.00) while maintaining a Buy rating.

The analyst comments "Over the last few weeks, we spoke with ten contacts (5 large enterprise CISO's, a former F500 CTO/Advisory Practice, and 4 industry analysts) to gain a better view of large enterprise security spending trends into 2025. Our discussions skewed toward larger Fortune 500 executives at companies with revenue in excess of $20B. Roughly speaking, our contacts work at organizations with a combined revenue base of almost half a trillion dollars and a view on roughly $4.0 billion in security budgets. All in, insights on Q4 spending trends were fairly solid. As such, we left our work with the conclusion that activity in December was good and that Q4 saw a normal year-end budget flush. In addition, contacts indicated that growth in 2025 should be roughly in-line to fractionally better as compared to 2024."

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