Varonis Systems (VRNS) PT Raised to $55 at Needham

Needham analyst Mike Cikos raised the price target on Varonis Systems (NASDAQ: VRNS) to $55.00 (from $50.00) while maintaining a Buy rating.

The analyst commented: "We believe Varonis continues to execute strongly in driving durable SaaS Net-New ARR ex-Conversions, benefiting from (1) the successful move up-market as Enterprise & Strategic customers re-think their Data Security to deploy AI safely; and (2) Sales Productivity improves on a multi-year basis, driven by the simplified comp plan. Furthermore, we believe Varonis can continue to outperform CY26 guidance - with potential for an additional upside driver in 3QCY26 from delayed deals in the final week of June.

Following our recent conversation with management, we reaffirm our Buy rating and raise our Price Target to $55 (from $50) based on our view that Varonis is positioned to drive durable 20%-plus yr-yr growth in CY27 and beyond."

You May Also Be Interested In

• Apple announced foldable iPhone Duo, starting at $1,999
• PI Financial Starts NVIDIA (NVDA) at Buy (1)
• Eagle Financial Services (EFSI) PT Raised to $46 at DA Davidson on Agreement to Sell JMSB