Varonis initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Varonis (VRNS) with an Overweight rating and $28 price target While noting that shares have been “punished on a noisy SaaS transition,” the firm adds that its checks indicate data security demand is burgeoning ahead of AI adoption and it sees current levels presenting “an attractive price for pure-play exposure to a top 2026 priority.”