RBC Capital analyst Matthew Hedberg raised the firm’s price target on Varonis to $56 from $52 and keeps an Outperform rating on the shares. The company delivered “strong” Q4 results with upside to ARR, revenue and free cash flow, as the SaaS transition continues to accelerate, the analyst tells investors in a research note. RBC adds that it is positive on the momentum around the transition, which should see phase two begin in the second half of this year and build over 2025-26.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on VRNS:
- Varonis Announces Fourth Quarter and Full-Year 2023 Financial Results
- Varonis introduces Managed Data Detection and Response
- Varonis Introduces MDDR: Industry’s First Managed Data Detection and Response Offering
- VRNS Earnings this Week: How Will it Perform?
- Varonis announces universal data classification support for databases