CyberArk price target raised to $316 from $295 at Morgan Stanley

Morgan Stanley raised the firm’s price target on CyberArk (CYBR) to $316 from $295 and keeps an Equal Weight rating on the shares. CyberArk has emerged as “a clear leader” in Identity Security with share gain in multiple categories, but the firm continues to “exercise caution” in the near-term as SaaS transition tailwinds moderate and the company navigates the integration of Venafi, the analyst tells investors.