Varonis Systems (NASDAQ:VRNS) Price Target Raised to $70.00

Varonis Systems (NASDAQ:VRNS) had its price objective upped by Cantor Fitzgerald from $63.00 to $70.00 in a research report released on Friday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the technology company’s stock.

Several other analysts also recently issued reports on VRNS. B. Riley initiated coverage on shares of Varonis Systems in a research note on Tuesday, August 26th. They issued a “buy” rating and a $80.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of Varonis Systems in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Varonis Systems in a research note on Wednesday, October 8th. Zacks Research downgraded Varonis Systems from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Finally, DA Davidson lifted their target price on Varonis Systems from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Fifteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Varonis Systems presently has an average rating of “Moderate Buy” and an average price target of $64.94.

Varonis Systems Stock Down 0.0%

Shares of VRNS opened at $62.30 on Friday. The company has a market cap of $6.98 billion, a PE ratio of -67.72 and a beta of 0.64. The business has a fifty day moving average of $58.97 and a 200 day moving average of $52.30. Varonis Systems has a 52-week low of $36.53 and a 52-week high of $63.90. 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 (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $152.16 million during the quarter, compared to the consensus estimate of $147.80 million. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.Varonis Systems’s revenue was up 16.7% on a year-over-year basis. During the same period last 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. On average, sell-side analysts expect that Varonis Systems will post -0.83 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Varonis Systems

A number of large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in shares of 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 acquiring an additional 848,408 shares in the last quarter. First Trust Advisors LP raised its holdings in Varonis Systems by 5.5% in the second quarter. First Trust Advisors LP now owns 2,917,391 shares of the technology company’s stock worth $148,058,000 after purchasing an additional 152,477 shares in the last quarter. RGM Capital LLC raised its holdings in Varonis Systems by 45.5% in the first quarter. RGM Capital LLC now owns 2,706,531 shares of the technology company’s stock worth $109,479,000 after purchasing an additional 846,475 shares in the last quarter. Geode Capital Management LLC raised its holdings in Varonis Systems by 0.3% in the second quarter. Geode Capital Management LLC now owns 2,670,343 shares of the technology company’s stock worth $135,537,000 after purchasing an additional 7,342 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in Varonis Systems by 98.6% in the first quarter. Voya Investment Management LLC now owns 2,321,317 shares of the technology company’s stock worth $93,897,000 after purchasing 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.