In a report released today, Shrenik Kothari from Robert W. Baird downgraded CyberArk Software to a Hold, with a price target of $460.00.
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Shrenik Kothari’s rating is based on the recent acquisition announcement involving CyberArk Software. The company is set to be acquired by PANW, with shareholders receiving both cash and shares of PANW stock, which has led to a significant increase in CyberArk’s stock price.
The acquisition terms offer a substantial premium over the previous average stock price, which has already been reflected in the market with a notable rise in the stock’s value. As a result, the potential for further immediate gains appears limited, prompting the Hold rating as the stock is now trading close to the acquisition offer price.
Kothari covers the Technology sector, focusing on stocks such as Cloudflare, Check Point, and Varonis Systems. According to TipRanks, Kothari has an average return of 26.8% and a 72.69% success rate on recommended stocks.
In another report released yesterday, RBC Capital also downgraded the stock to a Hold with a $448.00 price target.