Stifel raised the firm’s price target on CyberArk (CYBR) to $335 from $306 and keeps a Buy rating on the shares after “another strong quarter” that included better-than-expected Q3 ARR, revenue and profitability. CyberArk announced that long-time CFO Josh Siegel is stepping down at the end of the year, but with long-time SVP of IR and Finance Erica Smith taking the helm the firm says it expects “a smooth transition” and overall remains confident in CyberArk’s ability to secure a broadening set of personas and execute against a number of secular tailwinds.
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Read More on CYBR:
- CyberArk price target raised to $330 from $310 at Canaccord
- CyberArk price target raised to $345 from $300 at Piper Sandler
- CyberArk price target raised to $345 from $320 at Susquehanna
- CyberArk price target raised to $360 from $310 at JMP Securities
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