CyberArk price target raised to $440 from $330 at Canaccord

Canaccord analyst Kingsley Crane raised the firm’s price target on CyberArk (CYBR) to $440 from $330 and keeps a Buy rating on the shares. The firm said they continued to execute at a high level in Q4 and in addition to the strong performance by the core business, the Venafi acquisition and integration is progressing better than expected with machine identity capabilities already proving essential to high-level strategic sales as well as some large machine identity wins in the EMEA market where Venafi had little dedicated S&M resources prior to the business combination.