Truist raised the firm’s price target on CyberArk (CYBR) to $450 from $385 and keeps a Buy rating on the shares. The company delivered strong execution in Q4 with upside to Street expectations for annual recurring revenue – its key performance metric – and the firm is encouraged by the resilient performance which reaffirms its belief in CyberArk’s long-term setup for durable growth and margin expansion, the analyst tells investors in a research note.
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