DA Davidson analyst last night Rudy Kessinger upgraded Varonis (VRNS) to Buy from Neutral with a price target of $30, up from $25. The firm says the company’s software-as-a-service annual recurring revenue growth excluding conversions is “quite strong.” Varonis’ SaaS ARR growth guidance of 18%-20% leaves room for upside, the analyst tells investors in a research note. DA thinks Varonis can post 15%-20% ARR growth with a margin rebound in 2027.
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