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Fly News Breaks for January 13, 2020
VRNS
Jan 13, 2020 | 07:20 EDT
As previously reported, Morgan Stanley analyst Melissa Franchi upgraded Varonis to Overweight from Equal Weight. New subscription offerings released in early 2019 and subscription pricing are unlocking demand for Varonis and headwinds from its transition to a subscription model are abating, contends Franchi. The analyst, who believes consensus revenue estimates will prove too low in 2020 as the current consensus view miss the inflection of subscriptions to a tailwind from a headwind, raised her price target on Varonis shares to $97 from $71.
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