DA Davidson raised the firm’s price target on CyberArk (CYBR) to $518 from $465 and keeps a Buy rating on the shares. The firm cites the company’s “strong” Q2 results and the announced acquisition by Palo Alto Networks (PANW), the analyst tells investors in a research note. CyberArk stock price will be dictated by Palo Alto stock price in the interim given the significant stock for stock component of the deal, the firm added.
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Read More on CYBR:
- Palo Alto Networks price target lowered to $215 from $225 at DA Davidson
- CyberArk Software Announces Merger with Palo Alto Networks
- CyberArk downgraded to Neutral from Buy at Rosenblatt
- Palo Alto Networks price target lowered to $210 from $225 at Mizuho
- CyberArk price target raised to $500 from $450 at Mizuho