Citigroup Maintains Neutral on Varonis Systems, Raises Price Target to $45
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Fatima Boolani has maintained a Neutral rating on Varonis Systems (NASDAQ: VRNS) but increased the price target from $35 to $45. This adjustment reflects a more optimistic valuation of the company's stock by Citigroup.
January 10, 2024 | 6:17 pm
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Citigroup has maintained a Neutral rating on Varonis Systems but raised the price target from $35 to $45, indicating a more positive outlook on the stock's value.
The increase in price target from $35 to $45 by Citigroup suggests that the bank sees more upside potential in Varonis Systems' stock than previously estimated. This could lead to increased investor interest and a potential short-term rise in the stock price, as market participants often look to analyst ratings and price targets as indicators of a stock's future performance. However, since the rating remains Neutral, the impact may be moderate rather than strong.
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