CyberArk price target raised to $358 from $328 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on CyberArk (CYBR) to $358 from $328 and keeps an Outperform rating on the shares after its Q3 earnings beat. The company’s Q3 was highlighted by subscription and total revenue growth and the close of Venafi, the analyst tells investors in a research note. There were also a number of positives, and RBC looks forward to the unfolding cross-sell opportunity with Venafi, the firm added.