Varonis price target lowered to $44 from $54 at Morgan Stanley

Morgan Stanley analyst Meta Marshall lowered the firm’s price target on Varonis (VRNS) to $44 from $54 and keeps an Overweight rating on the shares. Cybersecurity names were largely flat on the year, with platforms being up about 30%, on average, and the rest of the space being down about 12%, the analyst tells investors. The firm continues to see platforms as the “easiest way to play cyber” and expects them to continue to outperform, but believes other opportunities remain, the analyst tells investors in a year-ahead note for the group.