Varonis price target raised to $55 from $48 at Piper Sandler

Piper Sandler analyst Rob Owens raised the firm’s price target on Varonis (VRNS) to $55 from $48 and keeps a Neutral rating on the shares. The firm notes Q3 results surpassed expectations across both ARR and free cash flow, though guidance lacked the follow-through to this momentum that many had hoped for, with Q4 NNARR implying a steep deceleration in growth.