Varonis initiated with a Buy at B. Riley

B. Riley last night initiated coverage of Varonis (VRNS) with a Buy rating and $80 price target Varonis is a leading provider of data security technology and industry checks suggest market trends are generating robust demand for data security, the analyst tells investors in a research note. The firm believes that after resetting expectations earlier this year due to a migration of its customer base to its software-as-a-service platform, the company is well positioned for upside potential in revenue and earnings growth.