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Fly News Breaks for May 1, 2018
VRNS
May 1, 2018 | 08:04 EDT
RBC Capital analyst Matthew Hedberg raised his price target on Varonis to $78 and kept his Outperform rating after the company's Q1 earnings beat, saying the company's strong start to FY18 was highlighted by revenue upside and increased profitability. The analyst notes the strong earnings were particularly driven by 60% growth in EMEA as well as increasing cross-selling opportunities, adding that the company's guidance also appears to be conservative given his "conviction" in long-term growth trends.
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