13 AI News and Ratings on Wall Street’s Radar

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7. Varonis Systems, Inc. (NASDAQ:VRNS)

Number of Hedge Fund Holders: 42

Varonis Systems, Inc. (NASDAQ:VRNS) provides software for managing, securing, and analyzing enterprise data, including sensitive information across different industries.

On January 8, Cantor Fitzgerald began coverage of Varonis (NASDAQ:VRNS) with an Overweight rating and a $60 price target as the firm highlighted data security as a growing investment priority due to trends like machine learning adoption, data growth, and increasingly sophisticated cyber threats. The firm noted that generative AI is a key focus, expected to significantly impact annual recurring revenue in fiscal 2025. Near-term revenue drivers include managed data detection and response, SaaS transitions, and growth in new customer acquisitions.

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