CyberArk Delivers A Powerful Beat, And There's A Long Runway To Grow

I did give CyberArk (CYBR) one of my rare, “I don’t care so much about the valuation, I like the opportunity” calls back in December, and the shares have shot up by about a third since then. Granted, picking almost anything in late December was a good way to make your stock-picking skill look better, but CyberArk helped its own cause with a very strong fourth-quarter result and guidance that, even with CyberArk’s customary conservatism, looks pretty good.

Yeah, the valuation is still a sticking point for me, as the shares are above my view of fair value, but I also know that valuation alone rarely stops a growth stock from going up, and I won’t be slightly surprised if CyberArk has another beat-and-raise in its pocket. Given the long-term potential of Privileged Access Management (or PAM) and CyberArk’s strong position in that market, I can sympathize with a “buy it anyway” attitude, but I’ll probably wait in the hope of a better price.

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CyberArk Delivers A Powerful Beat, And There's A Long Runway To Grow