Oppenheimer analyst Ittai Kidron raised the firm’s price target on CyberArk (CYBR) to $420 from $360 and keeps an Outperform rating on the shares. The firm believes CyberArk is poised to deliver a compelling long-term growth outlook at its Investor Day. Its proprietary analysis and multiple conversations with management/industry contacts highlight growing success with its “persona-based” GTM initiatives; increasing cross-selling momentum with workforce identity, secrets, and EPM as notable standouts; and underappreciated opportunities in machine identity that can be enhanced by GenAI.
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