UPDATE: Baird Upgrades CyberArk Software (CYBR) to Outperform

(Updated - April 7, 2021 6:46 AM EDT)

Baird analyst Jonathan Ruykhaver upgraded CyberArk Software (NASDAQ: CYBR) from Neutral to Outperform with a price target of $170.00.

The analyst comments "We are upgrading CyberArk to Outperform given our appreciation of the company's commitment to driving its model transition and a healthy demand environment for PAM. Partner feedback suggests PAM as a higher-priority spend area in 2021, which we have been expecting given the recent threat landscape. Overall, we like the vision from CyberArk; while we acknowledge this model transition may be bumpy and certainly creates near-term noise, we believe it will serve CyberArk's investors well in the long run."

For an analyst ratings summary and ratings history on CyberArk Software click here. For more ratings news on CyberArk Software click here.

Shares of CyberArk Software closed at $135.56 yesterday.

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