Barclays raised the firm’s price target on CyberArk to $194 from $180 and keeps an Overweight rating on the shares post the Q3 report. The analyst thinks the company’s free cash flow should “step up inflect” in fiscal 2024, driving confidence in its 2025 and 2027 targets.
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Read More on CYBR:
- CyberArk (NASDAQ:CYBR) Gains as Wedbush Reiterates Confidence Following Q3 Beat
- CyberArk reports Q3 adjusted EPS 42c, consensus 23c
- CyberArk raises FY23 EPS view to 72c-80c from 44c-63c, consensus 55c
- CyberArk sees Q4 EPS 41c-50c, consensus 41c
- CyberArk upgraded to Overweight from Neutral at JPMorgan