Wells Fargo analyst Andrew Nowinski raised the firm’s price target on CyberArk (CYBR) to $350 from $300 and keeps an Overweight rating on the shares. The firm notes that after trading up pre-market, CyberArk sold off about 1% throughout the day despite reporting solid results. With the Venafi acquisition now closed, Wells believes the company can maintain low-20s ARR growth and free cash flow margin, above the Rule of 40.
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Read More on CYBR:
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