CyberArk price target lowered to $275 from $300 at DA Davidson

DA Davidson lowered the firm’s price target on CyberArk to $275 from $300 but keeps a Buy rating on the shares. The company delivered upside across the board in Q1, though its annual recurring revenue upside was more modest vs. past quarters, the analyst tells investors in a research note. The firm is maintaining its view that CyberArk is solidifying their position as the identity security platform leader and sees continued upside as likely throughout 2024.