B. Riley Financial Forecasts Strong Price Appreciation for Varonis Systems (NASDAQ:VRNS) Stock

Key Points

• B. Riley Financial raised its price target on Varonis Systems to $55 from $45 and kept a buy rating, implying about 19.8% upside from the current price.
• Other analysts have also turned more bullish, with recent target hikes from firms including Wells Fargo, JPMorgan, Stephens, Citigroup, and RBC; MarketBeat now shows an average rating of Moderate Buy and an average target of $45.42.
• Varonis shares were trading around $45.90 after rising 2.5%, and the company recently reported better-than-expected quarterly earnings and revenue with revenue up 26.9% year over year.

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its price target increased by investment analysts at B. Riley Financial from $45.00 to $55.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. B. Riley Financial's price objective suggests a potential upside of 19.83% from the stock's current price.

A number of other brokerages also recently issued reports on VRNS. Wells Fargo & Company raised their price target on shares of Varonis Systems from $35.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday. JPMorgan Chase & Co. upped their price objective on Varonis Systems from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Stephens upgraded Varonis Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $33.00 to $45.00 in a research report on Wednesday, June 24th. Citigroup reissued an "overweight" rating on shares of Varonis Systems in a research note on Friday. Finally, Royal Bank Of Canada lifted their target price on Varonis Systems from $30.00 to $36.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $45.42.

Varonis Systems Trading Up 2.5%

Shares of VRNS traded up $1.12 during midday trading on Friday, reaching $45.90. The company had a trading volume of 527,601 shares, compared to its average volume of 2,672,360. Varonis Systems has a 1-year low of $19.70 and a 1-year high of $63.90. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.00. The firm has a 50 day simple moving average of $37.64 and a 200-day simple moving average of $30.31. The stock has a market cap of $5.27 billion, a PE ratio of -40.36 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The technology company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.11. Varonis Systems had a negative net margin of 19.75% and a negative return on equity of 20.27%. The firm had revenue of $173.13 million for the quarter, compared to analysts' expectations of $165.52 million. The company's revenue 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. Research analysts forecast that Varonis Systems will post -1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Varonis Systems

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Varonis Systems by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 13,418,273 shares of the technology company's stock valued at $440,119,000 after acquiring an additional 822,925 shares in the last quarter. First Trust Advisors LP increased its holdings in Varonis Systems by 40.6% during the 4th quarter. First Trust Advisors LP now owns 4,427,245 shares of the technology company's stock worth $145,214,000 after purchasing an additional 1,279,002 shares during the period. RGM Capital LLC raised its position in Varonis Systems by 17.1% in the 4th quarter. RGM Capital LLC now owns 3,160,093 shares of the technology company's stock valued at $103,651,000 after purchasing an additional 460,580 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Varonis Systems by 43.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,123,056 shares of the technology company's stock valued at $67,029,000 after purchasing an additional 944,676 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Varonis Systems by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 2,833,180 shares of the technology company's stock valued at $92,943,000 after buying an additional 151,961 shares during the period. Institutional investors and hedge funds own 95.65% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.