Wells Fargo analyst Gray Powell upgraded CyberArk Software to Outperform from Market Perform saying the company's billings growth as well as its sales and marketing efficiencies are "exceeding peers by a wide margin." Recent headlines relating to security breaches are helping CyberArk drive more customer wins and expand further with existing customers, Powell tells investors in a research note. He views the valuation as more compelling at current levels and raised his price target range for shares to $70-$73 from $65-$67. The cybersecurity company closed yesterday up 13c to $58.06.