CyberArk price target raised to $390 from $360 at JMP Securities

JMP Securities analyst Trevor Walsh raised the firm’s price target on CyberArk (CYBR) to $390 from $360 and keeps an Outperform rating on the shares ahead of the Q4 earnings report. The firm believes CyberArk will benefit most from current trends — including the implications of the Department of Government Efficiency, the elevation of identity security in the stack of priorities, and the opportunity for cyber vendors relative to generative AI — given its solid foundation as an identity platform of choice and potential for additional upside related to the Venafi product lines, the analyst tells investors in a research note.