KeyBanc lowered the firm’s price target on CyberArk (CYBR) to $425 from $485 and keeps an Overweight rating on the shares. The firm cites weaker macro survey data and lower peer multiples. KeyBanc’s checks indicate Q1 bookings may be fine but to get ready for cautious updated guidance as pipelines build while signings slow.
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- Cybersecurity survey points to demand slowdown, says Jefferies
- CyberArk price target lowered to $415 from $475 at DA Davidson
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