William Blair analyst Jonathan Ho downgraded CyberArk (CYBR) to Market Perform from Outperform after Palo Alto Networks (PANW) agreed to acquire CyberArk in a cash and stock deal. Palo Alto’s acquisition of CyberArk “significantly advances its platform strategy,” according to the analyst, who believes the combined company is well positioned to address the growing identity threat surface with a unified platform.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CYBR:
- M&A News: CyberArk Stock (CYBR) Dips as Palo Alto Jumps on Board in $25B Takeover
- Morning Movers: Wingstop jumps after second quarter report and dividend raise
- Palo Alto Networks to Acquire CyberArk in $25 Billion Deal
- CyberArk reports Q2 EPS 88c, consensus 79c
- Palo Alto Networks to acquire CyberArk for $45 per share