Varonis Systems is trading 4.07% higher at $48.26 after TD Cowen raised its price target to $56 from $53, maintaining a Buy rating. - The surge also comes amidst unconfirmed reports of potential acquisition talks, including with Thoma Bravo-owned Proofpoint. - TD Cowen cited healthy security demand, new products, new customer wins, and AI-related demand as support for its optimistic outlook.