CyberArk price target raised to $285 from $275 at DA Davidson

DA Davidson analyst Rudy Kessinger raised the firm’s price target on CyberArk to $285 from $275 and keeps a Buy rating on the shares. The firm is citing the company unveiling CORA AI at its CyberArk IMPACT 24 event, along with some new Identity Threat Detection and Response, or ITDR, capabilities. CyberArk management has also echoed the rationale behind the Venafi acquisition, with an emphasis on the inflection they are seeing in the market for Machine Identity, the analyst tells investors in a research note.