CyberArk's stock price plummeted 5.05% during intraday trading on Thursday, following a series of analyst price target reductions and concerns about the company's pending acquisition.

The decline comes as multiple financial firms lowered their price targets for CyberArk. Mizuho cut its target to $470 from $520, Barclays reduced its target to $460 from $520, and Truist Securities lowered its target to $411 from $455. While Barclays maintained an Equal Weight rating, analysts have expressed concerns about the company being in "acquisition limbo" as it awaits its pending acquisition by Palo Alto Networks.

Despite CyberArk reporting strong quarterly results with record subscription growth, the uncertainty surrounding the acquisition appears to be weighing on investor sentiment, contributing to the significant intraday decline.