CyberArk price target raised to $444 from $370 at Stifel

Stifel analyst Adam Borg raised the firm’s price target on CyberArk (CYBR) to $444 from $370 and keeps a Buy rating on the shares following “another strong” quarter. CyberArk continues to see strength across its broadening platform spanning human and non-human identities, including with its recent Venafi acquisition, which outperformed expectations, according to the firm. CyberArk remains a top mid-cap idea, and Stifel believes it has a number of drivers to sustain 20%+ revenue growth along with operating margin/free cash flow expansion in coming years, the firm told investors.