Too Much Unrealized Upside Here: Maintaining CyberArk Stock With A Buy
Portfolio Pulse from
CyberArk Software Ltd. reported strong Q3 2024 earnings and raised its full-year guidance, driven by significant ARR growth and increased profitability. The company's valuation metrics are higher than peers, reflecting market confidence and the anticipated benefits from the Venafi acquisition. CyberArk's free cash flow stands at $52 million, and the company has crossed the $100 million mark in its workforce business.
November 14, 2024 | 3:15 pm
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POSITIVE IMPACT
CyberArk Software Ltd. has reported strong Q3 2024 earnings and raised its full-year guidance, driven by significant ARR growth and increased profitability. The company's valuation metrics are higher than peers, reflecting market confidence and the anticipated benefits from the Venafi acquisition.
The strong Q3 earnings and raised guidance indicate positive financial performance and future growth potential. The ARR growth and increased profitability are key drivers for the stock's potential upside. The Venafi acquisition is expected to bring additional benefits, further supporting the buy rating.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100