CyberArk price target raised to $310 from $280 at JMP Securities

JMP Securities raised the firm’s price target on CyberArk to $310 from $280 and keeps an Outperform rating on the shares. The firm came away from CyberArk’s IMPACT 24: The Identity Security Conference incrementally positive around CyberArk’s near-term prospects given the tone of business and energy surrounding the event, the analyst tells investors in a research note. The combination of an intelligent growth and margin accretive acquisition and timely product enhancements in aggregate confirm JMP’s belief that CyberArk continues to rise toward the forefront of the identity security market as the leading platform to beat, the firm argues.