CyberArk price target raised to $173 from $160 at Morgan Stanley

Morgan Stanley analyst Hamza Fodderwala raised the firm’s price target on CyberArk to $173 from $160 and keeps an Overweight rating on the shares after the company delivered "another strong result against growing uncertainty." A higher recurring revenue mix, stronger upsell and new logo momentum should drive durable topline growth, while the company’s FY23 outlook looks "conservative," the analyst tells investors.