Fly News Breaks for February 11, 2020
Feb 11, 2020 | 08:49 EDT
Craig-Hallum analyst Chad Bennett raised his price target for Varonis to $110 from $82 as the company posted Q4 revenue and EPS results just ahead of estimates. The analyst notes that management also established fiscal year 2020 guidance that came in ahead of estimates for revenue, but materially below for operating income and EPS. While the lower than anticipated profitability guides may concern investors in the near-term, he believes that management is making the right move to prioritize sustained Subscription growth. Bennett maintains 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.