Citi analyst Fatima Boolani raised the firm’s price target on CyberArk to $175 from $155 and keeps a Buy rating on the shares following the company’s quarterly report. The company’s calendar 2023 year-over-year ARR growth guidance of 29% at the midpoint, which is ahead of consensus, "showcases sustained success, while still appearing prudent," said the firm, adding that it views CyberArk as "the cleanest SMID asset to own in cyber."
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Published first on TheFly
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Read More on CYBR:
- CyberArk price target raised to $174 from $165 at Canaccord
- CyberArk price target raised to $173 from $160 at Morgan Stanley
- CyberArk price target raised to $158 from $150 at Barclays
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- CyberArk announces planned executive changes
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