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

Varonis Systems (NASDAQ:VRNS) had its price objective hoisted by JPMorgan Chase & Co. from $61.00 to $70.00 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on the company. Morgan Stanley lifted their price objective on Varonis Systems from $59.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. Susquehanna lifted their price objective on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research note on Wednesday, July 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of Varonis Systems in a research note on Tuesday, July 22nd. UBS Group lifted their price objective on Varonis Systems from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group upgraded Varonis Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $65.00 in a research note on Thursday, July 24th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Varonis Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.12.

Varonis Systems Trading Up 1.6%

NASDAQ VRNS opened at $59.54 on Wednesday. Varonis Systems has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a 50 day simple moving average of $56.64 and a two-hundred day simple moving average of $49.35. The stock has a market cap of $6.67 billion, a P/E ratio of -64.72 and a beta of 0.67.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $152.16 million during the quarter, compared to analysts’ expectations of $147.80 million. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $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, analysts forecast that Varonis Systems will post -0.83 earnings per share for the current year.

Insider Buying and Selling at Varonis Systems

In related news, CFO Guy Melamed sold 1,500 shares of Varonis Systems stock in a transaction on Friday, August 29th. The stock was 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 of the company’s stock, valued at $24,557,336.95. The trade was a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Den Bosch Fred Van sold 3,000 shares of Varonis Systems stock in a transaction on 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 of the company’s stock, valued at $7,086,923.28. The trade was a 2.28% 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 in the last ninety days. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Varonis Systems

Hedge funds have recently bought and sold shares of the stock. Brown Advisory Inc. bought a new stake in Varonis Systems during the first quarter valued at about $346,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Varonis Systems by 18.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,465 shares of the technology company’s stock valued at $352,000 after purchasing an additional 1,323 shares during the period. Stephens Investment Management Group LLC grew its holdings in Varonis Systems by 14.7% during the first quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company’s stock valued at $64,904,000 after purchasing an additional 205,781 shares during the period. Penserra Capital Management LLC lifted its position in shares of Varonis Systems by 52.2% in the first quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company’s stock valued at $62,376,000 after acquiring an additional 529,182 shares in the last quarter. Finally, Legacy Advisors LLC lifted its position in shares of Varonis Systems by 164.5% in the first quarter. Legacy Advisors LLC now owns 21,090 shares of the technology company’s stock valued at $853,000 after acquiring an additional 13,115 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.