CyberArk price target raised to $185 from $175 at DA Davidson

DA Davidson analyst Rudy Kessinger raised the firm’s price target on CyberArk to $185 from $175 and keeps a Buy rating on the shares. The company’s Q4 top-line missed due to light license revenue and higher subscription bookings mix than expected, but its annual recurring revenue was ahead of expectations and grew an impressive 45% Y/Y, the analyst tells investors in a research note. The identity security platform play continues to resonate and the vendor consolidation trend is playing to CyberArk’s favor, the firm adds.