Varonis price target lowered to $50 from $55 at Piper Sandler

Piper Sandler lowered the firm’s price target on Varonis (VRNS) to $50 from $55 and keeps a Neutral rating on the shares. Turning the page to 2025, the firm still sees an active threat landscape buoyed by the threat of GenAI, increased geo-political tensions and broader concerns over protection of critical infrastructure. As the economy has stabilized, Piper notes IT spending intentions improved overall and are particularly strong for cyber, AI and key areas of infrastructure software.