Varonis Systems’ (VRNS) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of Varonis Systems (NASDAQ:VRNS) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $64.00 target price on the technology company’s stock.

A number of other equities analysts have also recently issued reports on VRNS. B. Riley assumed coverage on Varonis Systems in a report on Tuesday, August 26th. They issued a “buy” rating and a $80.00 target price on the stock. Robert W. Baird increased their target price on Varonis Systems from $58.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 target price on shares of Varonis Systems in a report on Tuesday, July 22nd. Susquehanna lifted their target price on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research report on Wednesday, July 30th. Finally, UBS Group lifted their target price on Varonis Systems from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.65.

Varonis Systems Price Performance

Shares of VRNS opened at $56.03 on Wednesday. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58. The business’s fifty day moving average is $54.60 and its 200 day moving average is $47.73. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32. The stock has a market cap of $6.28 billion, a P/E ratio of -60.90 and a beta of 0.67.

Varonis Systems (NASDAQ:VRNS) last issued its 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. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.The company had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $147.80 million. During the same period last year, the business earned $0.05 EPS. Varonis Systems’s quarterly revenue was up 16.7% compared to the same quarter last year. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. Sell-side analysts anticipate that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other news, CFO Guy Melamed sold 1,500 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was 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 directly owned 412,105 shares of the company’s stock, valued at $24,557,336.95. This trade represents a 0.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Den Bosch Fred Van sold 3,000 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.08, for a total value of $165,240.00. Following the sale, the director directly owned 128,666 shares of the company’s stock, valued at approximately $7,086,923.28. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,386 shares of company stock valued at $6,429,405. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Varonis Systems in the 2nd quarter worth about $65,161,000. Voya Investment Management LLC increased its holdings 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 acquiring an additional 1,152,687 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings 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 acquiring an additional 848,408 shares during the last quarter. RGM Capital LLC increased its holdings 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 acquiring an additional 846,475 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Varonis Systems by 319.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 971,544 shares of the technology company’s stock worth $48,606,000 after acquiring an additional 740,114 shares during the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

About Varonis Systems

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.