CyberArk price target raised to $185 from $174 at Canaccord

Canaccord analyst T. Michael Walkley raised the firm’s price target on CyberArk to $185 from $174 and keeps a Buy rating on the shares. The firm said they repeorted strong Q2 results and raised guidance across virtually all metrics, substantiating its progress toward a rule of 40 company. Canaccord continues to view CyberArk as a long-term winner in the security software market, building on its leadership position in the critical PAM segment with its broadening portfolio that includes IAM, CIEM, DevSecOps, and Endpoint Privilege Manager.