Varonis upgraded to Outperform from Peer Perform at Wolfe Research

Wolfe Research last night upgraded Varonis (VRNS) to Outperform from Peer Perform with a $50 price target The firm says its better survey data coupled with management’s recent decision to accelerate the software-as-a-service transition has the potential to make 20%-plus growth a reality in fiscal 2025. The stock stock currently trades at a 17% discount to its “Heavyweight growth peers,” or companies expected to grow revenue 20%-plus in 2025, which is not justified, the analyst tells investors in a research note.