{"id":77899,"date":"2024-03-13T07:14:38","date_gmt":"2024-03-13T12:14:38","guid":{"rendered":"https:\/\/equitynewsreport.com\/truist-raises-varonis-systems-stock-target-to-55-on-saas-transition-optimism\/"},"modified":"2024-03-13T07:14:38","modified_gmt":"2024-03-13T12:14:38","slug":"truist-raises-varonis-systems-stock-target-to-55-on-saas-transition-optimism","status":"publish","type":"post","link":"https:\/\/equitynewsreport.com\/h\/truist-raises-varonis-systems-stock-target-to-55-on-saas-transition-optimism\/","title":{"rendered":"Truist raises Varonis Systems stock target to $55 on SaaS transition optimism"},"content":{"rendered":"<div readability=\"58\">\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<img decoding=\"async\" alt=\"Truist raises Varonis Systems stock target to $55 on SaaS transition optimism\" id=\"carouselImage\" src=\"https:\/\/i-invdn-com.investing.com\/news\/LYNXNPEC3B0CQ_L.jpg\"><br \/>\n<span class=\"text\">\u00a9 Reuters. <\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>On Wednesday, Truist Securities adjusted its outlook on <span itemscope=\"\" itemtype=\"http:\/\/schema.org\/Corporation\"><span itemprop=\"name\"> Varonis Systems <\/span><\/span> (NASDAQ:), a data security and analytics company, by increasing the price target from $50.00 to $55.00. The firm has reiterated a Buy rating for the company&#8217;s stock.<\/p>\n<p>The price target revision follows a business update with Varonis Systems&#8217; CEO, Yaki Faitelson, and COO &#038; CFO, Guy Melamed. During the update, the transition of the company to a Software as a Service (SaaS) model was a key point of discussion. The executives elaborated on how the SaaS solution has created significant opportunities for customers to engage with Varonis&#8217; products.<\/p>\n<p>Truist Securities expressed increased optimism after the meeting, which included a demonstration of Varonis&#8217; SaaS solution. The firm&#8217;s outlook is buoyed by the company&#8217;s potential to meet its goal of becoming a predominantly SaaS organization.<\/p>\n<p>The investment firm&#8217;s decision to raise the price target reflects expectations of an expanding terminal multiple for Varonis Systems. The higher target suggests that Truist Securities anticipates the company&#8217;s shift towards a SaaS model to positively impact its financial performance in the future.<\/p>\n<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&#038;C.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. On Wednesday, Truist Securities adjusted its outlook on Varonis Systems (NASDAQ:), a data security and analytics company, by increasing the price target from $50.00 to $55.00. The firm has reiterated a Buy rating for the company&#8217;s stock. The price target revision follows a business update with Varonis Systems&#8217; CEO, Yaki Faitelson, and COO &#038; CFO, Guy Melamed. During the update, the transition of the company to a Software as a Service (SaaS) model was a key point of discussion. The executives elaborated on how the SaaS solution has created significant opportunities for customers to engage with Varonis&#8217; products. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":77900,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,49,50,3],"tags":[],"_links":{"self":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77899"}],"collection":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/comments?post=77899"}],"version-history":[{"count":0,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media\/77900"}],"wp:attachment":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media?parent=77899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/categories?post=77899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/tags?post=77899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}