Varonis price target lowered to $50 from $60 at Jefferies

Jefferies analyst Joseph Gallo lowered the firm’s price target on Varonis (VRNS) to $50 from $60 and keeps a Buy rating on the shares after the company “disappointingly” guided calendar year 2026 ARR to grow 10% year-over-year, missing consensus at 14%. While investor angst is focused on 10% year-over-year growth in 2026, the firm views this as a reset of expectations and sees a path to mid-to-high teens ARR growth in 2027, the analyst tells investors.