TD Cowen raised the firm’s price target on Varonis to $54 from $50 and keeps an Outperform rating on the shares. The company reported “strong” Q4 results, headlined by annual recurring revenue of $543M, powered by “robust” software-as-a-service adoption, the analyst tells investors in a research note. The firm says Varonis’ offering continues to gain traction, driving improved ARR and free cash flow.
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