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 Jun 18, 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
$447
+9.3% 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
59 / 100
Updated
Jun 18, 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
$1.6B
+17.9% YoY
FY2
$1.9B
+17.4% YoY
EPS Outlook
FY1
$-1.21
+58.4% YoY
FY2
$-0.98
+19.0% 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
Expensive versus peers
Fair value est. $213 — implies -48.0% from today's price.
Premium to Fair Value
48.0%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
CYBR
-139.5x
vs
S&P 500
24.4x
671% discount
vs Technology Trailing P/E
CYBR
-139.5x
vs
Technology
29.0x
581% discount
vs CYBR 5Y Avg P/E
Today
-139.5x
vs
5Y Average
—
Benchmark unavailable
Forward PE
81.9x
S&P 500
18.8x
+335%
Technology
22.3x
+268%
5Y Avg
—
—
Trailing PE
-139.5x
S&P 500
24.4x
-671%
Technology
29.0x
-581%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.66x
—
Technology
1.51x
—
5Y Avg
—
—
EV/EBITDA
908.2x
S&P 500
15.2x
+5871%
Technology
16.6x
+5364%
5Y Avg
—
—
Price/FCF
79.6x
S&P 500
20.7x
+285%
Technology
19.2x
+314%
5Y Avg
115.4x
-31%
Price/Sales
15.2x
S&P 500
3.1x
+390%
Technology
2.4x
+522%
5Y Avg
13.2x
+15%
Dividend Yield
—
S&P 500
1.91%
—
Technology
1.11%
—
5Y Avg
—
—
| Metric | CYBR | S&P 500 | Technology | 5Y Avg CYBR |
|---|---|---|---|---|
| Forward PE | 81.9x | 18.8x+335% | 22.3x+268% | — |
| Trailing PE | -139.5x | 24.4x-671% | 29.0x-581% | — |
| PEG Ratio | — | 1.66x | 1.51x | — |
| EV/EBITDA | 908.2x | 15.2x+5871% | 16.6x+5364% | — |
| Price/FCF | 79.6x | 20.7x+285% | 19.2x+314% | 115.4x-31% |
| Price/Sales | 15.2x | 3.1x+390% | 2.4x+522% | 13.2x+15% |
| Dividend Yield | — | 1.91% | 1.11% | — |
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 June 18, 2026
High Risk
Profitability struggles
Despite robust revenue growth, the company is struggling with profitability, as evidenced by its projected negative EPS for the next fiscal year.
High Risk
Market commoditization risk
A bear case scenario suggests platform competitors could commoditize the market, potentially reducing the company's 5-year CAGR below 12%.
Medium
Execution dependency
CyberArk's long-term growth prospects are contingent on continued innovation and execution, which introduces uncertainty.
Medium
Acquisition integration risk
The pending acquisition by Palo Alto Networks introduces risks related to integration and strategic alignment.
Lower
Market sentiment volatility
The stock has faced downturns despite surpassing revenue and earnings forecasts, indicating sensitivity to broader market sentiment.
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 June 18, 2026
Comprehensive identity security
CyberArk offers seamless identity security across hybrid, SaaS, and multi-cloud environments, addressing both human and machine identities.
Strategic acquisition by Palo Alto
Palo Alto Networks' $25B acquisition of CyberArk highlights its strategic pivot to identity security, validating CyberArk's market position.
AI-driven identity demand
The rise of AI agents increases the need for securing all identity types, positioning CyberArk as a critical player in this emerging market.
Strong financial metrics
CyberArk demonstrates robust free cash flow and R&D investment, indicating strong organic growth funding and future innovation potential.
Privileged access leadership
CyberArk provides the most comprehensive security offering for high-risk identity types, centered on privileged access management.
Moderate to strong growth
CyberArk's bull case projects an 18% 5-year CAGR, driven by potential dominance in high-risk identity security, contingent on execution.
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
25%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$370.16
+10.5% from the low
52-Week High
$526.19
-22.3% from the high
1 Month
—
3 Month
—
YTD
-6.1%
1 Year
+5.2%
3Y CAGR
+37.6%
5Y CAGR
+24.2%
10Y CAGR
+23.8%
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 30.6x median
+167% above peer median
Revenue Growth
+17.9%
vs +16.4% median
+9% above peer median
Net Margin
-10.8%
vs -2.4% median
-343% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
CYB CYBR CyberArk Software Ltd. | $20.6B | 81.9x | +17.9% | -10.8% | Buy | +9.3% |
SAI SAIL SailPoint, Inc. | $7.6B | — | +18.0% | -25.2% | Buy | +38.4% |
OKT OKTA Okta, Inc. | $19.6B | 30.6x | +11.8% | 8.2% | Buy | -3.9% |
WAL WALD Waldencast plc | $181M | — | +16.4% | -56.3% | Buy | +50.6% |
CRW CRWD CrowdStrike Holdings, Inc. | $174.3B | 138.7x | +17.2% | -0.5% | Buy | +0.4% |
ZS ZS Zscaler, Inc. | $20.2B | 30.3x | +10.8% | -2.4% | Buy | +54.8% |
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 $447, implying +9.3% from the current price of $409.
02What is the CYBR stock price target for 2026?
The Wall Street consensus price target for CYBR is $447 based on 49 analyst estimates. The high-end target is $470 (+15.0% 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 expensive versus peers. 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) Profitability struggles — Despite robust revenue growth, the company is struggling with profitability, as evidenced by its projected negative EPS for the next fiscal year. (2) Market commoditization risk — A bear case scenario suggests platform competitors could commoditize the market, potentially reducing the company's 5-year CAGR below 12%. (3) Execution dependency — CyberArk's long-term growth prospects are contingent on continued innovation and execution, which introduces uncertainty. 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 $1.6B (+17.9% year-over-year) and EPS of $-1.21 (+58.4% year-over-year) for the upcoming fiscal year. The following year, analysts project $1.9B 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).