Truist lowered the firm’s price target on Varonis (VRNS) to $34 from $42 and keeps a Buy rating on the shares. The company reported solid Q4 results, exceeding consensus expectations, driven by continued momentum in its SaaS business and record number of conversions from its OPS customers, but the stock fell as its outlook is implying a lower than expected total ARR guide due to the end of life of its OPS customers, the analyst tells investors in a research note.
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Read More on VRNS:
- Varonis price target lowered to $30 from $60 at UBS
- Varonis price target lowered to $30 from $41 at RBC Capital
- Balancing SaaS Momentum and Legacy Headwinds: Why Varonis Remains a Buy with a Lowered $30 Target
- Varonis price target lowered to $27 from $41 at Morgan Stanley
- Varonis price target lowered to $32 from $42 at Baird