Citi analyst Fatima Boolani raised the firm’s price target on CyberArk to $265 from $215 and keeps a Buy rating on the shares. The analyst says field work of cyber decision-makers indicated slower budget growth. While the firm isn’t “outright dour” on cybersecurity the group, it thinks “this deservedly defensive budget (and stock) sub-segment” amid broader software spending is unlikely to see the upside budgetary and returns “beta” versus the sub-sector at-large.
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>>
See today’s best-performing stocks on TipRanks >>
Read More on CYBR:
- 5 Top Cybersecurity Stocks to Buy Now, According to Analysts – January 2024
- CyberArk downgraded to Equal Weight from Overweight at Morgan Stanley
- CyberArk price target raised to $260 from $195 at Oppenheimer
- CyberArk price target raised to $250 from $240 at Jefferies
- The security, infrastructure software stocks to own in 2024, according to Piper