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

Varonis Systems, Inc. (NASDAQ:VRNS)’s share price traded up 7.2% during mid-day trading 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 traded hands 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.

VRNS has been the subject of a number of other reports. Susquehanna increased their target price on shares of Varonis Systems from $30.00 to $36.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Rosenblatt Securities assumed coverage on Varonis Systems in a report on Tuesday, May 12th. They set a “buy” rating and a $40.00 price target on the stock. Citigroup upped their price target on Varonis Systems from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Wells Fargo & Company increased their price objective on Varonis Systems from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Varonis Systems in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.55.

Hedge Funds Weigh In On Varonis Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd bought a new stake in Varonis Systems during the 1st quarter valued at approximately $233,000. Caxton Associates LLP bought a new position in shares of Varonis Systems in the 1st quarter worth approximately $200,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Varonis Systems by 11.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 619,257 shares of the technology company’s stock valued at $25,049,000 after purchasing an additional 64,636 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Varonis Systems by 2.8% during the second quarter. Russell Investments Group Ltd. now owns 22,811 shares of the technology company’s stock valued at $1,158,000 after purchasing an additional 628 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Varonis Systems by 8.6% during the second quarter. Invesco Ltd. now owns 96,536 shares of the technology company’s stock valued at $4,899,000 after purchasing an additional 7,618 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Up 7.2%

The company has a market capitalization of $4.02 billion, a P/E ratio of -30.58 and a beta of 0.89. The company has a 50-day moving average of $29.18 and a two-hundred day moving average of $28.54. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.00.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, April 28th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. The business had revenue of $173.13 million during the quarter, compared to the consensus estimate of $165.52 million. Varonis Systems had a negative return on equity of 20.27% and a negative net margin of 19.75%.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. On average, research analysts predict that Varonis Systems, Inc. will post -1.04 EPS 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.