Needham & Company Starts Varonis Systems (VRNS) at Buy

Needham & Company initiates coverage on February IPO Varonis Systems (NASDAQ: VRNS) with a Buy rating and a price target of $48.00.

Analyst Scott Zeller comments, "Varonis Systems, Inc. is a next-generation infrastructure software solution that enables management of Unstructured Data in the enterprise. VRNS solves IT challenges in the areas of: Network Security, Systems Management, and Big Data by (a) discovery and categorizing of sensitive data, (b) bringing down “man-hour” administrative costs, and (c) improving the “access” and “compliance” functions for data access."

For an analyst ratings summary and ratings history on Varonis Systems click here. For more ratings news on Varonis Systems click here.

Shares of Varonis Systems closed at $36.51 yesterday.

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