Cyberark Software Ltd (NASDAQ:CYBR)’s stock has reached an unprecedented peak, setting an all-time high at $348.71. According to InvestingPro data, the company maintains impressive gross profit margins of 81% and showed strong revenue growth of 30% in the last twelve months. This milestone underscores the company’s robust performance and investor confidence. Over the past year, Cyberark’s stock has witnessed a remarkable ascent, with a 1-year change showing an impressive 52.4% increase. This surge reflects the market’s optimistic view of the company’s growth prospects and its position within the cybersecurity industry. The all-time high represents a significant achievement for Cyberark, highlighting its potential for continued success in the ever-evolving tech landscape. InvestingPro analysis reveals 14 additional investment tips and a comprehensive Pro Research Report, offering deeper insights into CYBR’s valuation and growth potential.
In other recent news, CyberArk Software (ETR:SOWGn) has seen significant attention from analysts. Piper Sandler increased CyberArk’s stock target, anticipating a 25.9% revenue CAGR through 2029, primarily due to the potential success of integrating Venafi, a recently acquired cybersecurity company. DA Davidson also revised CyberArk’s stock price target upward to $390, maintaining a Buy rating.
The recent security breach at BeyondTrust, a competitor in the Privileged Access Management market, has been identified by Rosenblatt Securities as a potential opportunity for CyberArk to provide alternative solutions. Morgan Stanley (NYSE:MS) reaffirmed its Equalweight rating and $316.00 price target for CyberArk, predicting a potential increase in the company’s Annual Recurring Revenue (ARR) growth following the recent security breach.
Baird maintained a positive stance on CyberArk, increasing the price target to $370 and retaining an Outperform rating. CyberArk’s Q3 results showed a record total revenue of $240.1 million, a 26% increase year-over-year, and an ARR of $926 million, marking 31.3% growth from the previous year. The company’s management anticipates Q4 revenue to range between $297 million and $303 million, surpassing the consensus estimate of $259.7 million. These are the recent developments in CyberArk’s operations.
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