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.
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