Varonis Systems (VRNS) PT Lowered to $57 at TD Cowen

TD Cowen analyst Shaul Eyal lowered the price target on Varonis Systems (NASDAQ: VRNS) to $57.00 (from $68.00) while maintaining a Buy rating.

The analyst comments "We are lowering our target on VRNS to $57 from $68 following 3Q25 results penalized by a late Q deceleration in fed and non-fed on-premises renewals. SaaS continues to perform well, and VRNS remains confident in sustaining +20% y/y SaaS growth. VRNS initiated cost controls including a 5% staff reduction. Guidance reflects additional conservatism, and the company launched a buyback. Maintain Buy."

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