CyberArk price target raised to $351 from $325 at BTIG
The Fly

CyberArk price target raised to $351 from $325 at BTIG

BTIG raised the firm’s price target on CyberArk (CYBR) to $351 from $325 and keeps a Buy rating on the shares after the company reported Q3 results. Overall, the firm thinks it was a strong report during what has been a “fairly mediocre” earnings season so far in security software. CyberArk was able to hit its upside target and increased guidance on an organic basis, the analyst tells investors in a research note, adding that the firm was also encouraged by commentary on workforce identity, secrets management, and the potential to accelerate Venafi growth over the next year. The firm also noted that its organic 2025 assumptions are “essentially unchanged.”

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