Morgan Stanley analyst Meta Marshall lowered the firm’s price target on Varonis (VRNS) to $54 from $66 and keeps an Overweight rating on the shares. A shortfall across most metrics in Q3 and into Q4 was attributed to a variety of factors, from renewal rates on on-premise business to continued deal scrutiny, but given how late changes were detected in the quarter and the number of changes being made, the firm sees the stock being in the “penalty box” in the near-term, the analyst tells investors.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VRNS:
- Varonis price target lowered to $45 from $50 at Piper Sandler
- Varonis Systems: Buy Rating Affirmed Amid Strategic Positioning in AI Data Security and SaaS Transition
- Varonis downgraded to Neutral from Outperform at Baird
- Varonis price target lowered to $60 from $75 at Jefferies
- Varonis Systems: Strategic Adjustments Amidst Challenges Support Buy Rating