CyberArk price target raised to $370 from $355 at Baird

Baird raised the firm’s price target on CyberArk (CYBR) to $370 from $355 and keeps an Outperform rating on the shares. The firm says CyberArk remains a top SMID-idea for 2025. The company has a leading platform in identity security with a track record of “exceptional execution,” the analyst tells investors in a research note. Baird sees further upside in the shares as identity security “remains a critical IT priority.” Tailwinds from the accretive Venafi acquisition, regulatory catalysts, public sector momentum and “prudent” guidance position CyberArk to sustain “Rule-of-40,” contends Baird.