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Fly News Breaks for February 11, 2020
Feb 11, 2020 | 09:13 EDT
DA Davidson analyst Rishi Jaluria raised his price target on Varonis to $105 and kept his Buy rating after its "solid" Q4 results, with subscription revenue rising to 82% of product revenue from 74% in Q3. The analyst notes that the below-consensus FY20 guidance is due to the subscription mix and the company's continued investments, with plans to continue hiring in sales, R&D, and customer success teams as well as with EMEA showing strong Q4 performance.
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.