CyberArk price target raised to $310 from $260 at Oppenheimer

Oppenheimer raised the firm’s price target on CyberArk to $310 from $260 and keeps an Outperform rating on the shares. CyberArk delivered strong Q4 results, beating estimates behind a record quarter for SaaS bookings and solid profitability, the analyst tells investors in a research note. The firm believes CyberArk can sustain its momentum behind durable identity security demand and deliver upside to conservative FY24 ARR guidance.