Varonis price target lowered to $45 from $55 at JPMorgan

JPMorgan lowered the firm’s price target on Varonis (VRNS) to $45 from $55 and keeps an Overweight rating on the shares as part of an earnings preview for security software names. Macro uncertainty could result in greater conservatism in the full year outlooks, the analyst tells investors in a research note. The firm believes software vendors with “healthy” Q1results “could get a free pass to embed more conservatism in full year guidance by merely reiterating.”