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On Friday, BTIG analyst Gray Powell confirmed a Buy rating for CyberArk Software (NASDAQ:CYBR), currently trading at $342.22 with a market capitalization of $16.9 billion, maintaining a price target of $485.00. Powell's endorsement followed his attendance at CyberArk's Impact 25 user conference in Boston on April 10, 2025, where he engaged with a variety of industry professionals and attended several company presentations. According to InvestingPro data, the stock has shown significant momentum with an 11.7% return over the past week.
At the conference, Powell spoke with six industry contacts, including three partners or consultants, two sales representatives, and one customer. He also had conversations with four additional contacts prior to the event. These discussions provided him with insights into the current security spending environment and feedback on CyberArk's product roadmap.
Despite a cautious outlook on security spending due to recent macroeconomic and geopolitical uncertainties, the feedback on CyberArk's product development was overwhelmingly positive. Industry contacts were particularly optimistic about the company's new Identity Governance and Administration (IGA) capabilities and the growing momentum of its Secrets Management solutions. The company's strong market position is reflected in its impressive 79.2% gross profit margin and robust 33.1% revenue growth. InvestingPro subscribers can access 8 additional key insights about CYBR's financial health and growth prospects.
Powell noted that while the broader market sentiment was not specific to CyberArk, no company is completely insulated from such external factors. However, the analyst highlighted that the positive responses to CyberArk's product offerings suggest a strong position for the company.
Looking ahead, Powell indicated that the potential to secure Agentic AI could serve as a significant catalyst for CyberArk starting in 2026. This opportunity is expected to contribute to the company's growth and market position. The reiteration of the Buy rating reflects BTIG's confidence in CyberArk's future prospects and current performance. While currently not profitable, analysts tracked by InvestingPro expect the company to turn profitable this year, with consensus price targets ranging from $352 to $500. For deeper insights into CYBR's valuation and growth potential, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, CyberArk announced significant updates to its Identity Security Platform, introducing solutions that secure human, AI, and machine identities. This expansion aims to address the growing complexity of identity management and includes features like AI-based session audits and a centralized Control Center. Meanwhile, Stephens initiated coverage on CyberArk with an Overweight rating and a $440 price target, citing the company's leadership in identity security and its transition to a SaaS-focused offering. DA Davidson reiterated its Buy rating with a $475 target, highlighting CyberArk's appealing entry point and anticipated revenue growth driven by platform-oriented deals. Stifel also maintained a Buy rating with a $444 target, emphasizing CyberArk's expanding machine identity security offerings and potential for high-teens growth. Lastly, Cantor Fitzgerald adjusted its price target to $400 while keeping an Overweight rating, noting CyberArk's strategic expansion into adjacent areas like Cloud Security and DevSecOps as a driver for future growth. These developments underscore CyberArk's ongoing efforts to strengthen its position in the identity security sector.
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