Needham analyst Mike Cikos raised the firm’s price target on Varonis (VRNS) to $36 from $30 and keeps a Buy rating on the shares. The firm expects shares of Varonis to trade higher after its earnings report, where the management raised its annualized recurring revenue – ARR – guidance due to stronger net new SaaS ARR conversions and accelerating new logo contribution, the analyst tells investors in a research note.
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