RBC Capital analyst Matthew Hedberg lowered the firm’s price target on Varonis (VRNS) to $30 from $41 and keeps an Outperform rating on the shares. The company reported better-than-expected results with all metrics ahead of consensus, and the firm continues to like Varonis’ strategic positioning in data security, stating that the underlying SaaS business has upside opportunities that could deliver durable 20% mid-term growth, the analyst tells investors in a research note.
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Read More on VRNS:
- Balancing SaaS Momentum and Legacy Headwinds: Why Varonis Remains a Buy with a Lowered $30 Target
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