Citi opens ‘positive catalyst watch’ on CyberArk into earnings

Citi analyst Fatima Boolani opened a "90-day positive catalyst watch" on shares of CyberArk into the earnings report, saying its annual recurring revenue can surprise to the upside. Over the medium term, the firm sees increased momentum from CyberArk’s "strengthened portfolio," especially on the secrets management side, "where innovation and monetizable products have ramped." Citi has a Buy rating on the shares with a $175 price target.