DA Davidson raised the firm’s price target on CyberArk (CYBR) to $390 from $360 and keeps a Buy rating on the shares. The recent U.S. Treasury Department breach that came as a result of a compromised API key from competitor BeyondTrust might benefit CyberArk in 2025, the analyst tells investors in a research note. The company also continues to solidify their position as the leading Identity Security platform in the market, with their competitive position, market opportunity, growth durability, and margin potential still not fully appreciated, the firm added.
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Read More on CYBR:
- CyberArk price target raised to $385 from $358 at RBC Capital
- CyberArk could benefit from recent breach at Treasury, says Rosenblatt
- CyberArk price target raised to $410 from $350 at Wells Fargo
- CyberArk a ‘major beneficiary’ of Treasury hack, says Morgan Stanley
- Treasury Department hacked by state-sponsored actor in China, NY Times reports