CyberArk price target raised to $300 from $285 at Wedbush

Wedbush analyst Daniel Ives raised the firm’s price target on CyberArk to $300 from $285 and keeps an Outperform rating on the shares. CyberArk reported Q2 earnings results which included beats on the top- and bottom-lines, strong annual recurring revenue and billings as demand holds strong while the company continues to grow with new and existing logos, the analyst tells investors in a research note. CyberArk remains one of the firm’s top cyber names as the company gave healthy guidance with strong demand for its wide range of product offerings across new and existing logos.