Varonis price target raised to $60 from $55 at UBS

UBS raised the firm’s price target on Varonis (VRNS) to $60 from $55 and keeps a Buy rating on the shares. Varonis’s Q1 results provided conviction in a broad-based growth algorithm rather than an over-reliance on conversions, the analyst tells investors in a research note. The firm sees shares as attractively priced for high-teens growth and continued free cash flow upside.