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Is CyberArk Software Ltd. (CYBR) an Attractive Investment?

Brown Capital Management, an investment management company, released its “The Brown Capital Management International Small Company Strategy” Q3 2022 investor letter. A copy of the same can be downloaded here. The strategy returned -9.13% in the third quarter compared to an -8.25% return for the MSCI ACWI Ex US Small Cap Index. In addition, check the fund’s top five holdings to know its best picks in 2022.

Brown Capital Management highlighted stocks like CyberArk Software Ltd. (NASDAQ:CYBR) in its Q3 2022 investor letter. Headquartered in Petah Tikva, Israel, CyberArk Software Ltd. (NASDAQ:CYBR) is a software-based security solutions provider. On December 20, 2022, CyberArk Software Ltd. (CYBR) stock closed at $129.25 per share. One-month return of CyberArk Software Ltd. (NASDAQ:CYBR) was -15.75%, and its shares lost 24.96% of their value over the last 52 weeks. CyberArk Software Ltd. (NASDAQ:CYBR) has a market capitalization of $5.263 billion.

Brown Capital Management made the following comment about CyberArk Software Ltd. (NASDAQ:CYBR) in its Q3 2022 investor letter:

CyberArk Software Ltd. (NASDAQ:CYBR), an Israeli company, is the leader in the quickly growing Privileged Access Management (PAM) market, which seeks to monitor, control and isolate access to “superuser” computer and network accounts. These superuser accounts are used for logging into a company’s most critical assets, such as database servers, firewalls, switches, etc. PAM is at the core of the broader identity-management space. While identity management often works to fend off “bad guys,” PAM works under the assumption that bad guys are already on a network and instead minimizes their ability to exploit a company’s key assets. PAM helps to reduce malware infection and propagation and the risk of downtime. According to Forrester, 80% of security breaches involve privileged credentials.

CyberArk delivered strong second-quarter 2022 results, growing annual recurring revenue (ARR) by 48% year over year, and increased its 2022 full-year ARR growth expectation from 35-36% to 36-38% year over year, despite an incremental $1-2 million currency headwind. The results validate its cloud transition strategy in the last few years, effectively expanding its addressable market from 26,000 enterprises to 70,000 by tapping into the mid-market segment, as well as into adjacent categories such as Endpoint Security Management."

16 Most Technologically Advanced Countries in the World in 2017
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Den Rise/Shutterstock.com

CyberArk Software Ltd. (NASDAQ:CYBR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held CyberArk Software Ltd. (NASDAQ:CYBR) at the end of the third quarter, which was 29 in the previous quarter.

We discussed CyberArk Software Ltd. (NASDAQ:CYBR) in another article and shared the best cybersecurity stocks to buy heading into 2023. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.