Stifel on CyberArk Software (CYBR): 'Strong Print and Conservative Guide as All Roads Lead to Identity'
Stifel analyst Adam Borg reiterated a Buy rating and $444.00 price target on CyberArk Software (NASDAQ: CYBR).
The analyst comments "CyberArk delivered another strong quarter, with better-than-expected F1Q25 ARR (+50%-Y/Y), revenue (+43%-Y/Y), profitability/CFFO/FCF. CyberArk continues to see strength across its broadening platform spanning human and nonhuman identities, including its recent Venafi acquisition. Turning to the FY25 outlook, despite F1Q upside and while CyberArk is not seeing any headwinds from the uncertain macro, management prudently reaffirmed FY25 ARR/Adjusted FCF guidance to maintain conservatism, which we believe creates a favorable setup for upside as the year plays out. Overall, we remain confident in CyberArk's ability to secure a broadening set of personas spanning humans, machines, and AI identities, and believe there are a number of secular tailwinds including the recently-announced industry-movement to reduce certificate lifecycles, something Venafi is well-positioned to capitalize on. Net/net, CyberArk remains a top cybersecurity idea, and we believe it has a number of drivers to sustain at least high-teens growth along with operating margin/FCF expansion in coming years."
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Shares of CyberArk Software closed at $367.66 yesterday.