Wedbush Upgrades Varonis Systems: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Wedbush upgraded Varonis Systems (NASDAQ:VRNS) to Outperform with a new price target of $65.00, up from $35.00. Shares of Varonis Systems have risen 10.39% in the last 24 hours to $50.27. The upgrade reflects a potential 29.3% increase from the current price. Varonis is a cybersecurity firm transitioning to cloud-based services.
February 06, 2024 | 5:00 pm
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Wedbush upgraded Varonis Systems to Outperform with a price target of $65, indicating a strong growth potential from its current price of $50.27.
The upgrade by Wedbush to Outperform and the significant increase in the price target from $35 to $65 reflect a strong vote of confidence in Varonis Systems' future performance, especially considering its ongoing transition to cloud-based services. This analyst action, combined with the current upward momentum in the stock price, suggests a positive short-term impact on VRNS shares.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100