Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing CYBR more generously than it does today.
Analysis OverviewBuyUpdated May 1, 2026
CyberArk Software Ltd. (CYBR) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
49
analysts
43 bullish · 0 bearish · 49 covering CYBR
Strong Buy
1
Buy
42
Hold
6
Sell
0
Strong Sell
0
Consensus Target
$459
+12.3% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
49
Published analyst ratings
Valuation Context
81.9x
Forward P/E · Market cap $20.6B
CYBR price targets
Three scenarios for where CYBR stock could go
Current
~$409
Confidence
66 / 100
Updated
May 1, 2026
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
CyberArk Software Ltd.
CYBR · NASDAQTechnologySoftware - InfrastructureDecember year-end
CyberArk is a cybersecurity company specializing in privileged access management — protecting organizations' most critical accounts and credentials from cyberattacks. It generates revenue primarily through software license sales and subscription services — including SaaS offerings — with maintenance and professional services contributing additional recurring income. The company's competitive advantage lies in its deep specialization in the privileged access security niche, where it has established market leadership and a comprehensive platform that's difficult for competitors to replicate.
Market Cap
$20.6B
Revenue TTM
$1.4B
Net Income TTM
-$147M
Net Margin
-10.8%
CYBR Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
91%Exceptional
vs consensus estimates
Avg EPS Surprise
+55.7%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 4 of 4Q2 2025
EPS
$0.98/$0.79
Revenue
$318M/$305M
Q3 2025
EPS
$0.88/$0.79
Revenue
$328M/$316M
Q4 2025
EPS
$1.20/$0.92
Revenue
$343M/$328M
Q1 2026
EPS
$1.33/$1.13
Revenue
$373M/$362M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $0.98/$0.79 | +24.4% | $318M/$305M | +4.0% |
| Q3 2025 | $0.88/$0.79 | +11.5% | $328M/$316M | +3.6% |
| Q4 2025 | $1.20/$0.92 | +30.0% | $343M/$328M | +4.4% |
| Q1 2026 | $1.33/$1.13 | +17.7% | $373M/$362M | +3.1% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$1.7B
+28.5% YoY
FY2
$2.3B
+30.9% YoY
EPS Outlook
FY1
$-1.11
+61.7% YoY
FY2
$-1.61
-44.4% YoY
Trailing FCF (TTM)$259M
FCF Margin: 19.0%
Next Earnings
—
Expected EPS
—
Expected Revenue
—
CYBR beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
CYBR Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2024
Total disclosed revenue $1.0B
Product Mix
Latest annual revenue by segment or product family
Saas
46.8%
+57.1% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
United States
53.5%
+28.0% YoY
Tap, hover, or focus a slice to inspect segment detail.
Saas is the largest disclosed segment at 46.8% of FY 2024 revenue, up 57.1% YoY.
United States is the largest reported region at 53.5%, up 28.0% YoY.
CYBR Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Overvalued
Fair value est. $185 — implies -54.8% from today's price.
Premium to Fair Value
54.8%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
CYBR
-139.5x
vs
S&P 500
25.2x
653% discount
vs Technology Trailing P/E
CYBR
-139.5x
vs
Technology
27.2x
613% discount
vs CYBR 5Y Avg P/E
Today
-139.5x
vs
5Y Average
—
Benchmark unavailable
Forward PE
81.9x
S&P 500
19.1x
+329%
Technology
21.7x
+277%
5Y Avg
—
—
Trailing PE
-139.5x
S&P 500
25.2x
-653%
Technology
27.2x
-613%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.74x
—
Technology
1.47x
—
5Y Avg
—
—
EV/EBITDA
908.2x
S&P 500
15.2x
+5867%
Technology
17.3x
+5150%
5Y Avg
—
—
Price/FCF
79.6x
S&P 500
21.3x
+274%
Technology
19.8x
+302%
5Y Avg
115.4x
-31%
Price/Sales
15.2x
S&P 500
3.1x
+384%
Technology
2.4x
+526%
5Y Avg
13.2x
+15%
Dividend Yield
—
S&P 500
1.87%
—
Technology
1.18%
—
5Y Avg
—
—
| Metric | CYBR | S&P 500 | Technology | 5Y Avg CYBR |
|---|---|---|---|---|
| Forward PE | 81.9x | 19.1x+329% | 21.7x+277% | — |
| Trailing PE | -139.5x | 25.2x-653% | 27.2x-613% | — |
| PEG Ratio | — | 1.74x | 1.47x | — |
| EV/EBITDA | 908.2x | 15.2x+5867% | 17.3x+5150% | — |
| Price/FCF | 79.6x | 21.3x+274% | 19.8x+302% | 115.4x-31% |
| Price/Sales | 15.2x | 3.1x+384% | 2.4x+526% | 13.2x+15% |
| Dividend Yield | — | 1.87% | 1.18% | — |
CYBR trades above S&P 500 benchmarks on 4 of 5 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolCYBR Financial Health
Verdict
Stressed
CYBR generates $259M in free cash flow at a 19.0% margin.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$1.4B
Revenue Growth
TTM vs prior year
+36.0%
Gross Margin
Gross profit as a share of revenue
74.3%
Operating Margin
Operating income divided by revenue
-7.7%
Net Margin
Net income divided by revenue
-10.8%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$-2.90
Free Cash Flow (TTM)
Cash generation after capex
$259M
FCF Margin
FCF as share of revenue — the primary cash quality signal
19.0%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
-3.2%
ROA
Return on assets, trailing twelve months
-3.0%
Cash & Equivalents
Liquid assets on the balance sheet
$623M
Net Debt
Total debt minus cash
$599M
Debt Serviceability
Net debt as a multiple of annual free cash flow
2.3× FCF
~2.3 years to full repayment at current FCF run-rate
ROE *
Return on equity, trailing twelve months
-6.1%
* Elevated by buyback-compressed equity — compare ROIC (-3.2%) for an undistorted picture of capital efficiency.
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
—
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$8M
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
50M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt). ROE marked * where buyback-compressed equity base may inflate the figure.
Open full ratios pageCYBR Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Intense Competition
CyberArk operates in a highly competitive cybersecurity market where larger IT security vendors may bundle similar services into broader platforms. This competitive landscape poses a significant threat to CyberArk's market position and could impact its revenue growth.
High Risk
Top and Bottom Line Declines
Despite experiencing solid growth, CyberArk warns that increased investments in business growth, new product development, and sales/marketing may lead to declines in operating and net profit margins. This could negatively affect revenue growth rates in the near term.
High Risk
Operational Inefficiencies and Profitability
CyberArk has shown strong revenue growth but faces profitability challenges, including negative net margins and returns on equity. Although the company maintains a solid liquidity position and low debt, weak interest coverage presents significant risks.
Medium
Challenges in Customer Expansion
CyberArk relies heavily on existing customers for sales through a 'land and expand' model. If the company fails to successfully sell additional products and services to these customers, future revenues and operating results could be adversely affected.
Medium
Execution Risk with Acquisitions
Integrating acquired companies carries execution risk, particularly in realizing the full potential of cross-selling and technical synergies. While early indicators for integrations like Venafi appear positive, successful execution remains crucial.
Medium
Limited Traction in Non-PAM Products
Analysts have noted limited traction in CyberArk's non-Privileged Access Management (PAM) products. If adoption of these newer offerings does not accelerate, the company may struggle to achieve necessary diversification for long-term growth.
Lower
Macroeconomic Headwinds
The uncertain macroeconomic environment could constrain IT spending, which may impact CyberArk's growth trajectory. Management's conservative guidance reflects these concerns and the potential for reduced demand.
Lower
Geopolitical Risks
CyberArk's incorporation and location in Israel expose it to geopolitical risks, including ongoing conflicts in the region. These risks could affect the company's operations and market perception.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why CYBR Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Market Leadership in Identity Security
CyberArk is recognized as a leader in Privileged Access Management (PAM), a critical area of cybersecurity. This strong market position provides a solid foundation for sustained growth, as organizations increasingly prioritize securing privileged accounts against sophisticated cyber threats.
Robust Financial Performance
The company has demonstrated impressive revenue growth, with Q1 2025 revenue reaching $317.6 million, a 43% increase year-over-year. Additionally, total Annual Recurring Revenue (ARR) grew by 50%, with Q4 2025 revenue reported at $372.7 million and subscription revenue at $310.5 million, representing 83% of total revenue and growing 28% year-over-year.
Successful Transition to Subscription Model
CyberArk has successfully transitioned to a subscription-based recurring revenue model, fostering long-term revenue stability and growth. By the end of 2023, over 90% of its total revenue was generated from SaaS, self-hosted subscriptions, and maintenance contracts.
Strategic Acquisitions and Expanded Capabilities
Acquisitions like Venafi and Zilla have broadened CyberArk's platform appeal and enhanced its capabilities in Identity Governance and Administration (IGA). These strategic moves expand its comprehensive identity security platform.
Strong Customer Base
The company boasts an extensive customer base, including over half of the Fortune 500, indicating trust and reliance from major organizations.
Positive Analyst Outlook
Many analysts maintain a positive outlook on CyberArk, with several raising price targets and maintaining 'Buy' or 'Strong Buy' ratings. Analysts project continued ARR growth for CyberArk, estimating around 21.3% for fiscal year 2025.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
CYBR Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$408.85
52W Range Position
34%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$347.12
+17.8% from the low
52-Week High
$526.19
-22.3% from the high
1 Month
—
3 Month
+4.36%
YTD
-6.1%
1 Year
+12.9%
3Y CAGR
+43.4%
5Y CAGR
+28.7%
10Y CAGR
+25.9%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
CYBR vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
81.9x
vs 34.6x median
+137% above peer median
Revenue Growth
+28.5%
vs +17.7% median
+61% above peer median
Net Margin
-10.8%
vs -3.8% median
-184% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
CYB CYBR CyberArk Software Ltd. | $20.6B | 81.9x | +28.5% | -10.8% | Buy | +12.3% |
SAI SAIL SailPoint, Inc. | $6.5B | — | +27.2% | -29.2% | Buy | +85.0% |
OKT OKTA Okta, Inc. | $14.0B | 20.4x | +11.7% | 8.1% | Buy | +31.4% |
WAL WALD Waldencast plc | $132M | — | +14.8% | -56.3% | Buy | +106.6% |
CRW CRWD CrowdStrike Holdings, Inc. | $118.6B | 96.2x | +23.5% | -3.8% | Buy | +12.9% |
ZS ZS Zscaler, Inc. | $22.3B | 34.6x | +17.7% | -2.3% | Buy | +99.7% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
CYBR Dividend and Capital Return
CYBR does not currently return meaningful capital to shareholders.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.0%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$8M
Estimated Shares Retired
19.6K
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
50M
FAQ
7 questionsCYBR Investor Questions
Common questions answered from live analyst data and company financials.
01Is CyberArk Software Ltd. (CYBR) stock a buy or sell in 2026?
CyberArk Software Ltd. (CYBR) is rated Buy by Wall Street analysts as of 2026. Of 49 analysts covering the stock, 43 rate it Buy or Strong Buy, 6 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $459, implying +12.3% from the current price of $409.
02What is the CYBR stock price target for 2026?
The Wall Street consensus price target for CYBR is $459 based on 49 analyst estimates. The high-end target is $480 (+17.4% from today), and the low-end target is $411 (+0.5%).
03Is CyberArk Software Ltd. (CYBR) stock overvalued in 2026?
CYBR trades at 81.9x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals significantly overvalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for CyberArk Software Ltd. (CYBR) stock in 2026?
The primary risks for CYBR in 2026 are: (1) Intense Competition — CyberArk operates in a highly competitive cybersecurity market where larger IT security vendors may bundle similar services into broader platforms. (2) Top and Bottom Line Declines — Despite experiencing solid growth, CyberArk warns that increased investments in business growth, new product development, and sales/marketing may lead to declines in operating and net profit margins. (3) Operational Inefficiencies and Profitability — CyberArk has shown strong revenue growth but faces profitability challenges, including negative net margins and returns on equity. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is CyberArk Software Ltd.'s revenue and earnings forecast?
Analyst consensus estimates CYBR will report consensus revenue of $1.7B (+28.5% year-over-year) and EPS of $-1.11 (+61.7% year-over-year) for the upcoming fiscal year. The following year, analysts project $2.3B in revenue.
06When does CyberArk Software Ltd. (CYBR) report its next earnings?
A confirmed upcoming earnings date for CYBR is not yet available. Check the Earnings section above for the most recent quarterly report dates and forward estimates.
07How much free cash flow does CyberArk Software Ltd. generate?
CyberArk Software Ltd. (CYBR) generated $259M in free cash flow over the trailing twelve months — a free cash flow margin of 19.0%. CYBR returns capital to shareholders through and share repurchases ($8M TTM).