Jefferies Raises Price Target on Varonis Systems (VRNS) to $36 Following 3Q Beat
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Jefferies reiterated a Buy rating on Varonis Systems (NASDAQ: VRNS), and raised the price target to $36.00 (from $34.00), following the company's 3Q earnings report. Non-GAAP EPS of ($0.03) on total revenue of $40.9M and compared favorably with consensus of ($0.11), and $38.6M.
Analyst John DiFucci commented, "VRNS reported another impressive Q, exceeding estimates across all metrics. Q4 guidance was above expectations. 34% license growth was relatively consistent with 36% in the prior 2 periods, a marked acceleration from the 22% in 2015 and back to 2014 trends, though with positive FCF today. We continue to view VRNS as a unique asset addressing tremendous needs across IT, including security associated with internal threats."
Shares of Varonis Systems closed at $28.85 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
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