RBC Capital lowered the firm’s price target on Varonis (VRNS) to $60 from $72 and keeps an Outperform rating on the shares. The company reported disappointing results as ARR and revenue missed expectations due to Fed and enterprise on-prem subscription softness, though its SaaS buisness continues to perform well, with strong demand and healthy SaaS net retention rate, the analyst tells investors in a research note.
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