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Investing.com - BTIG downgraded CyberArk Software (NASDAQ:CYBR) from Buy to Neutral on Wednesday following the company’s agreement to be acquired by Palo Alto Networks (NASDAQ:PANW). The stock has surged 15.5% in the past week and is trading near its 52-week high of $452, according to InvestingPro data.
The acquisition deal, announced Wednesday, values CyberArk at approximately $25 billion in a combined stock and cash transaction. Under the agreement terms, CyberArk shareholders will receive $45.00 per share in cash plus 2.2005 shares of Palo Alto Networks common stock for each CyberArk share they own.
BTIG’s rating change reflects that CyberArk now trades at only about a 3% discount to its $453 per share take-out price, making a Neutral rating more appropriate according to the research firm.
The transaction is expected to close in the first half of calendar year 2026, subject to customary closing conditions.
The deal represents Palo Alto Networks’ strategic move to expand its cybersecurity portfolio by acquiring CyberArk, a company specializing in identity security solutions.
In other recent news, CyberArk Software’s stock rating was downgraded by William Blair from Outperform to Market Perform after the company announced its agreement to be acquired by Palo Alto Networks. This acquisition is seen as a strategic move for Palo Alto Networks to enhance its platform strategy. In contrast, Cantor Fitzgerald reiterated its Overweight rating on CyberArk, maintaining a price target of $420, emphasizing its positive outlook on the cybersecurity firm. Meanwhile, BTIG also reiterated a Buy rating, citing strong demand for CyberArk’s Privileged Access Management solutions based on feedback from industry contacts.
Additionally, CyberArk appointed Kathy Cullen-Cote as its new Chief People Officer, succeeding Ruth Shaked, who is retiring after 12 years with the company. Cullen-Cote previously served as Chief People Officer and EVP at Teradata (NYSE:TDC). These developments highlight the company’s ongoing strategic and leadership changes. The acquisition and analyst ratings reflect differing views on CyberArk’s future prospects amid its evolving business landscape.
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