Varonis Systems (NASDAQ:VRNS) Shares Up 7.2% Following Analyst Upgrade

Varonis Systems, Inc. (NASDAQ:VRNS) traded up 7.2% on Tuesday after Needham & Company LLC raised their price target on the stock from $36.00 to $40.00. Needham & Company LLC currently has a buy rating on the stock. Varonis Systems traded as high as $34.75 and last traded at $35.07. 672,731 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 2,688,811 shares. The stock had previously closed at $32.71.

Several other research analysts have also commented on VRNS. KeyCorp initiated coverage on Varonis Systems in a report on Tuesday, May 26th. They set a “sector weight” rating for the company. Wells Fargo & Company lifted their target price on shares of Varonis Systems from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Barclays boosted their price target on shares of Varonis Systems from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. William Blair restated a “market perform” rating on shares of Varonis Systems in a research report on Monday, March 23rd. Finally, JPMorgan Chase & Co. increased their target price on Varonis Systems from $38.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Varonis Systems presently has an average rating of “Moderate Buy” and a consensus price target of $41.55.

Hedge Funds Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently made changes to their positions in VRNS. Pacer Advisors Inc. grew its stake in shares of Varonis Systems by 26.2% during the first quarter. Pacer Advisors Inc. now owns 14,688 shares of the technology company’s stock valued at $315,000 after buying an additional 3,051 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Varonis Systems by 1,025.4% during the 1st quarter. Parallel Advisors LLC now owns 3,320 shares of the technology company’s stock valued at $71,000 after acquiring an additional 3,025 shares during the period. Essential Partners LLC boosted its holdings in Varonis Systems by 72.5% during the 1st quarter. Essential Partners LLC now owns 2,054 shares of the technology company’s stock valued at $44,000 after acquiring an additional 863 shares during the period. Janus Henderson Group PLC grew its position in Varonis Systems by 23.5% during the 1st quarter. Janus Henderson Group PLC now owns 58,248 shares of the technology company’s stock worth $1,251,000 after acquiring an additional 11,100 shares during the last quarter. Finally, Amundi grew its position in Varonis Systems by 96.1% during the 1st quarter. Amundi now owns 25,663 shares of the technology company’s stock worth $551,000 after acquiring an additional 12,577 shares during the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Up 7.2%

The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.00. The stock has a 50 day simple moving average of $29.18 and a 200 day simple moving average of $28.54. The firm has a market capitalization of $4.02 billion, a PE ratio of -30.58 and a beta of 0.89.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, April 28th. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. Varonis Systems had a negative return on equity of 20.27% and a negative net margin of 19.75%.The firm had revenue of $173.13 million during the quarter, compared to analyst estimates of $165.52 million. The business’s revenue for the quarter was up 26.9% on a year-over-year basis. Varonis Systems has set its FY 2026 guidance at 0.110-0.120 EPS and its Q2 2026 guidance at 0.000-0.010 EPS. As a group, sell-side analysts forecast that Varonis Systems, Inc. will post -1.04 earnings per share for the current year.

About Varonis Systems

Varonis Systems is a cybersecurity firm specializing in the protection and management of unstructured data. The company’s flagship Data Security Platform provides advanced analytics for monitoring file systems, email servers, collaboration platforms and cloud storage. By continuously mapping and analyzing data permissions and user behavior, Varonis enables organizations to detect insider threats, verify compliance and remediate exposed data in real time.

Founded in 2005 and headquartered in New York City, Varonis serves a diverse global customer base across financial services, healthcare, media, manufacturing and government.