Morgan Stanley Downgrades CyberArk Software to Equal-Weight, Raises Price Target to $240
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Hamza Fodderwala downgraded CyberArk Software (NASDAQ:CYBR) from Overweight to Equal-Weight but increased the price target from $195 to $240.
January 09, 2024 | 10:45 am
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NEUTRAL IMPACT
CyberArk Software was downgraded by Morgan Stanley from Overweight to Equal-Weight, although the price target was raised from $195 to $240.
The downgrade to Equal-Weight suggests that Morgan Stanley sees limited upside potential for CyberArk Software relative to the market or its sector, indicating a neutral outlook. However, the increase in the price target to $240 implies a positive view on the company's value, which could counterbalance the downgrade's negative impact. The mixed nature of this update may lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100