CyberArk Software Raises PT to $440, Keeps Overweight Rating

Barclays has raised its price target for CyberArk (CYBR) to $440 from $405 and maintained an Overweight rating. The company achieved a total ARR of $1.215 billion in Q1 2025, with Net New ARR at $46 million, and showed robust financial health with an 18% operating margin and generated $96 million in free cash flow. CyberArk has significant demand for its solutions that secure human, machine, and AI identities.

Barclays has increased its price target for CyberArk (CYBR) to $440 from $405, maintaining an Overweight rating. The move comes on the heels of CyberArk's robust financial performance in the second quarter of 2025. The company reported a total Annual Recurring Revenue (ARR) of $1.274 billion, with a subscription portion of ARR reaching $1.088 billion. Total revenue for the quarter was $328 million, up 46% from the same period last year.

CyberArk's adjusted free cash flow (FCF) for the quarter was $44 million, or a 13% margin. The company's non-GAAP operating income was $49.4 million, representing a 15% margin. GAAP operating loss was $35.8 million, compared to a $24.0 million loss in the same period last year.

The company's strong financial performance is driven by significant demand for its solutions that secure human, machine, and AI identities. CyberArk's AI-powered Identity Security Platform provides intelligent privilege controls, continuous threat prevention, detection, and response across the identity lifecycle.

Additionally, CyberArk's acquisition of Venafi and Zilla Security has contributed to its financial results. The company's total revenue for the second quarter included the financial contributions from these acquisitions.

Barclays' analysts noted that CyberArk's strong Q2 results and the company's strategic position in the identity security market justify the increased price target. The analysts expect CyberArk to continue its growth trajectory, driven by increasing demand for identity security solutions.

References:
[1] https://finance.yahoo.com/news/cyberark-announces-strong-second-quarter-121900713.html