JPMorgan analyst Brian Essex lowered the firm’s price target on Varonis (VRNS) to $50 from $62 and keeps an Overweight rating on the shares ahead of the Q4 report. The report be an :important catalyst that could provide investors with better confidence in the health” of the company’s software-as-a-service business, the analyst tells investors in a research note. The firm says Varonis’ “kitchen sinked” fiscal 2025 annual recurring revenue guidance “looks very achievable.” it cites recent peer multiple contraction for the target cut.
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