Stephens raised the firm’s price target on Varonis to $40 from $37 and keeps an Overweight rating on the shares. Overall, the company delivered “solid” Q3 results with an improved ARR outlook and the firm continues to see an attractive setup for the company, with the accelerating adoption of SaaS, the potential generative AI tailwinds, and its current valuation below that of its peers, the analyst says.
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