Varonis initiated with an Equal Weight at Stephens

Stephens analyst Todd Weller initiated coverage of Varonis (VRNS) with an Equal Weight rating and $40 price target The company has an attractive growth outlook for data security driven by powerful secular trends ad is an established market leader now operating as a Software-as-a-Service-first data security platform, the analyst tells investors in a research note. The firm added that the long-term opportunity remains compelling, though near-term visibility is limited.