DA Davidson more confident in CyberArk’s long term prospects

DA Davidson analyst Rudy Kessinger keeps a Buy rating and $315 price target on CyberArk after hosting an investor call with its management team. The firm has come away from the call even more confident in the company’s long-term prospects as it is clear their Identity Security platform is seeing increasing traction in the market, the analyst tells investors in a research note. CyberArk management has also detailed the multiplying effect that its non-PAM solutions have on customer spend and called out increasing customer conversations in both Secrets & Workforce IAM, the firm added.