Fly News Breaks for October 29, 2019
Oct 29, 2019 | 05:07 EDT
Jefferies analyst Brent Thill raised his price target for Varonis Systems to $95 from $92 and says the stock remains his top small cap pick. The company reported Q3 sales results that were above expectations despite a faster transition to a subscription model than implied in original guidance, Thill tells investors in a research note. The momentum of the business has accelerated, says the analyst, who believes Varonis' subscription is "unlocking the true value of the platform." He keeps a Buy rating on the shares.
News For VRNS From the Last 2 Days
Jul 1, 2020 | 09:00 EDT
JPMorgan analyst Sterling Auty initiated coverage of Varonis Systems with an Overweight rating and $130 price target. The analyst also added the shares to the firm's U.S. Analyst Focus List as a growth pick. Varonis represents one of the "attractive situations" in software as its subscription transition offers the opportunity for "significant outperformance" relative to revenue and margin estimates that can deliver stock outperformance, Auty tells investors in a research note. This is helped by the growing need for data security solutions as cloud adoption increases and work from home setups drive usage of tools that create security challenges, adds the analyst.