Jefferies raises price target on CyberArk Software due to ARR growth view and Venafi acquisition

From Investing.com: 2024-12-09 01:10:33

Jefferies raises CyberArk Software’s price target to $400, citing strong 2025 ARR growth potential and optimism around Venafi acquisition. Expectations include 20% year-on-year growth with Venafi, presenting cross-selling opportunities. Analysts see significant revenue potential from Venafi adoption by existing customers. CyberArk anticipates improved free cash flow margins in 2024, with further growth expected as SaaS transition matures. The conversion of maintenance customers to SaaS is a key revenue driver for CyberArk. Jefferies remains bullish on CyberArk’s growth prospects and market opportunities.



Read more at Investing.com: Jefferies raises PT on ARR growth view, Venafi acquisition benefits By Investing.com