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Fly News Breaks for March 28, 2018
VRNS
Mar 28, 2018 | 06:18 EDT
DA Davidson analyst Rishi Jaluria initiated Varonis with a Buy rating and a price target of $73. Jaluria is positive on the company's market-leading position in "emerging and growing" data governance market, attractive competitive environment, and extended runway with 20% or more license growth. The analyst adds that the company stands to benefit from E.U.'s General Data Protection Regulation which goes into force on May 25th, framing it as an "additive, multi-billion dollar market opportunity and that Varonis is well-positioned to capitalize".
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