Oppenheimer analyst Shaul Eyal reiterated an Outperform rating and boosted his price target on CyberArk Software (NASDAQ: CYBR) to $55.00 (from $45.00) after the company "crushes" Q4 estimates and issues strong FY15 guidance.

Eyal commented, "CYBR reported strong 4Q14 revenue/EPS metrics blowing handily through consensus' estimate ($36.3M vs. $26.9M estimate, up 81% YoY). At the highest range of CYBR's elevated FY15 guidance, revenue should grow 26% YoY and we attribute this strong performance to: 1.) accelerating demand trends; 2.) strong acceptance of CYBR's Privileged Account Management (PAM) platform; 3.) subdued competition; and 4.) flawless execution. We're raising our FY15 estimates as well as introducing FY16 estimates and our PT is raised to $55 from $45. We continue to view CYBR as a single unique asset to play the quickly evolving Identity Access Management (IAM) segment."

The firm is introducing FY15 quarterly estimates, with 1Q15E of $26.0M/$0.05. For FY15E, estimates go to $128.5M/$0.26 from $114.9M/$0.03. They are introducing FY16E of $158.3M/$0.37.

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Shares of CyberArk Software closed at $45.69 yesterday.