Varonis Systems (NASDAQ:VRNS) Earns “Outperform” Rating from Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of Varonis Systems (NASDAQ:VRNS) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $64.00 target price on the technology company’s stock.

VRNS has been the topic of a number of other reports. Morgan Stanley increased their target price on shares of Varonis Systems from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Varonis Systems in a report on Wednesday. Citigroup increased their target price on shares of Varonis Systems from $51.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. B. Riley initiated coverage on shares of Varonis Systems in a report on Tuesday, August 26th. They set a “buy” rating and a $80.00 target price on the stock. Finally, Wells Fargo & Company raised shares of Varonis Systems from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $51.00 to $70.00 in a report on Monday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.65.

Varonis Systems Trading Down 2.5%

VRNS opened at $55.43 on Wednesday. The stock has a market capitalization of $6.21 billion, a PE ratio of -60.25 and a beta of 0.67. The firm’s fifty day moving average price is $54.39 and its 200 day moving average price is $47.57. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 earnings per share. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. As a group, research analysts expect that Varonis Systems will post -0.83 EPS for the current fiscal year.

Insider Activity

In other news, CFO Guy Melamed sold 51,889 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the completion of the transaction, the chief financial officer owned 470,602 shares in the company, valued at approximately $25,930,170.20. This represents a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $55.08, for a total transaction of $165,240.00. Following the completion of the transaction, the director owned 128,666 shares of the company’s stock, valued at $7,086,923.28. This represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,386 shares of company stock valued at $6,429,405 in the last 90 days. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew 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 valued at $165,231,000 after buying an additional 848,408 shares in the last quarter. First Trust Advisors LP grew its position in Varonis Systems by 5.5% in the 2nd quarter. First Trust Advisors LP now owns 2,917,391 shares of the technology company’s stock valued at $148,058,000 after buying an additional 152,477 shares in the last quarter. RGM Capital LLC grew 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 valued at $109,479,000 after buying an additional 846,475 shares in the last quarter. Geode Capital Management LLC grew its position in Varonis Systems by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,670,343 shares of the technology company’s stock valued at $135,537,000 after buying an additional 7,342 shares in the last quarter. Finally, Voya Investment Management LLC grew 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 valued at $93,897,000 after buying an additional 1,152,687 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

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.