Brokerages Set Varonis Systems, Inc. (NASDAQ:VRNS) PT at $63.41

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $63.4118.

A number of research analysts have issued reports on the stock. Jefferies Financial Group raised shares of Varonis Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.00 to $65.00 in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of Varonis Systems from $61.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Citigroup increased their price objective on shares of Varonis Systems from $51.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, August 18th. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Varonis Systems in a research note on Wednesday, September 3rd. Finally, Morgan Stanley increased their target price on shares of Varonis Systems from $59.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd.

Insider Activity at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 1,500 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $59.59, for a total value of $89,385.00. Following the completion of the sale, the chief financial officer owned 412,105 shares in the company, valued at $24,557,336.95. This represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $55.08, for a total transaction of $165,240.00. Following the completion of the sale, the director owned 128,666 shares of the company’s stock, valued at approximately $7,086,923.28. The trade was a 2.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,386 shares of company stock valued at $6,429,405. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Varonis Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRNS. Norges Bank purchased a new stake in Varonis Systems in the 2nd quarter worth approximately $65,161,000. Voya Investment Management LLC lifted its position in Varonis Systems by 98.6% in the 1st quarter. Voya Investment Management LLC now owns 2,321,317 shares of the technology company’s stock worth $93,897,000 after buying an additional 1,152,687 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Varonis Systems by 26.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,084,830 shares of the technology company’s stock worth $165,231,000 after buying an additional 848,408 shares in the last quarter. RGM Capital LLC lifted its position in Varonis Systems by 45.5% in the 1st quarter. RGM Capital LLC now owns 2,706,531 shares of the technology company’s stock worth $109,479,000 after buying an additional 846,475 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Varonis Systems by 319.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 971,544 shares of the technology company’s stock worth $48,606,000 after purchasing an additional 740,114 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $59.33 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32. Varonis Systems has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The firm has a 50-day simple moving average of $57.23 and a 200 day simple moving average of $50.09. The company has a market cap of $6.65 billion, a PE ratio of -64.49 and a beta of 0.64.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $152.16 million during the quarter, compared to the consensus estimate of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. On average, sell-side analysts anticipate that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.