Varonis price target lowered to $55 from $65 at JPMorgan

JPMorgan lowered the firm’s price target on Varonis (VRNS) to $55 from $65 and keeps an Overweight rating on the shares as part of Q4 preview. The firm does not expect meaningful copilot and agentic contribution this quarter but expects “solid results nonetheless with multiple tailwinds.” The combination of new business traction and installed base conversion over reasonable estimates could drive better fundamental upside, the analyst tells investors in a research note.