CyberArk price target raised to $480 from $390 at JMP Securities

JMP Securities raised the firm’s price target on CyberArk (CYBR) to $480 from $390 and keeps an Outperform rating on the shares. CyberArk reported “impressive” Q4 results, exceeding all guided metrics, as CEO Matt Cohen dubbed the current moment as an inflection point for identity security driven by a host of factors emanating from within customer IT environments as well as the threat actors looking to exploit them, the analyst tells investors in a research note. The valuation is justified based on CyberArk’s leading position in the privileged access management market, broader growth prospects as it expands its identity platform, and well-balanced outlook with growth and profitability due to the model transition to subscription, JMP argues.