Varonis initiated with a Positive at Susquehanna

Susquehanna initiated coverage of Varonis with a Positive rating and $55 price target. Within the broader software universe, the firm is “bullish” on the cybersecurity software space as it see cyber budgets and use cases continuing to grow given “an ever-evolving threat landscape, internal and external innovation, and requirements from both regulators and insurers,” the analyst tells investors.