CyberArk price target raised to $355 from $335 at BofA

BofA raised the firm’s price target on CyberArk (CYBR) to $355 from $335 and keeps a Buy rating on the shares following what the firm calls “another strong quarter of outperformance.” While contending that “the stock is priced for perfection,” the firm continues to have conviction in CyberArk’s ability to consistently deliver strong results and adjusted its estimates to reflect the updated outlook from management that includes the closing of the Venafi acquisition.