Investing.com -- Wall Street analysts have a positive outlook on CyberArk Software (NASDAQ:CYBR) following its investor day, given confidence in the compay's identity security platform and its ability to achieve long-term growth targets.
DA Davidson reiterated its Buy rating and set a $475 price target, noting CyberArk’s new 2028 targets, projecting around $2.3 billion in annual recurring revenue at an 18% CAGR, were largely in line with expectations but conservatively set. The brokerage highlighted strong customer adoption across the platform, particularly among larger enterprises.
Stifel also remained bullish on CyberArk, calling it a top cybersecurity pick. The brokerage noted that while some investors had hoped for a 20%+ ARR CAGR, the company’s 27% free cash flow margin target exceeded buy-side expectations. It highlighted emerging growth areas such as machine identity and AI-driven security.
Mizuho reiterated its Outperform rating with a $450 price target, stating that CyberArk is "strongly positioned for its next phase of growth." The firm pointed to the company’s recent acquisitions of Venafi and Zilla as key drivers for expansion and expects CyberArk to unveil its Agentic AI solution at its April user conference.
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