Morgan Stanley analyst Hamza Fodderwala raised the firm’s price target on CyberArk to $173 from $160 and keeps an Overweight rating on the shares after the company delivered "another strong result against growing uncertainty." A higher recurring revenue mix, stronger upsell and new logo momentum should drive durable topline growth, while the company’s FY23 outlook looks "conservative," the analyst tells investors.
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Published first on TheFly
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