RBC Capital raised the firm’s price target on Varonis to $52 from $40 and keeps an Outperform rating on the shares. The stock is a “stand-out” from the firm’s TIMT conference, and RBC believes that its SaaS model transition will unfold faster than the original 5-year target, the analyst tells investors in a research note. Varonis management may give a timing update on the Q4 earnings call, which could be a bullish catalyst for shares, RBC adds.
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