DA Davidson Raises Varonis Systems (NASDAQ:VRNS) Price Target to $55.00

Key Points

• DA Davidson has raised the price target for Varonis Systems from $50.00 to $55.00, indicating a potential downside of 10.15% from the current price.
• Various analysts have recently upgraded their ratings and price targets for Varonis Systems, with an average consensus target price of $63.71 and a "Moderate Buy" rating.
• Varonis Systems reported revenue of $152.16 million for the latest quarter, exceeding analysts' expectations and representing a year-over-year increase of 16.7%.

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its price target hoisted by DA Davidson from $50.00 to $55.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. DA Davidson's price target points to a potential downside of 10.15% from the company's current price.

VRNS has been the subject of a number of other reports. Jefferies Financial Group upgraded shares of Varonis Systems from a "hold" rating to a "buy" rating and upped their price target for the company from $50.00 to $65.00 in a report on Thursday, July 24th. UBS Group upped their price target on shares of Varonis Systems from $65.00 to $70.00 and gave the company a "buy" rating in a report on Monday, September 29th. Weiss Ratings restated a "sell (d-)" rating on shares of Varonis Systems in a report on Wednesday, October 8th. Barclays upped their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley upped their price objective on shares of Varonis Systems from $59.00 to $66.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Fourteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $63.71.

Varonis Systems Stock Down 1.9%

NASDAQ:VRNS traded down $1.21 during trading hours on Tuesday, reaching $61.21. The company's stock had a trading volume of 109,097 shares, compared to its average volume of 1,517,491. The company has a market cap of $6.86 billion, a price-to-earnings ratio of -66.49 and a beta of 0.64. Varonis Systems has a one year low of $36.53 and a one year high of $63.90. The business's 50-day moving average is $57.99 and its 200-day moving average is $50.94. 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 (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data 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 net margin of 17.30% and a negative return on equity of 23.06%. The firm had revenue of $152.16 million during the quarter, compared to analysts' expectations of $147.80 million. During the same period in the prior year, the company posted $0.05 earnings per share. Varonis Systems's revenue for the quarter was up 16.7% on a year-over-year basis. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. Equities research analysts predict that Varonis Systems will post -0.83 EPS for the current year.

Insider Transactions at Varonis Systems

In other news, CFO Guy Melamed sold 51,889 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer owned 470,602 shares of the company's stock, valued at approximately $25,930,170.20. This trade represents a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Den Bosch Fred Van sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $55.08, for a total transaction 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. The trade was a 2.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,386 shares of company stock valued at $6,429,405. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of Varonis Systems

A number of hedge funds and other institutional investors have recently modified their holdings of VRNS. Quarry LP boosted its stake in Varonis Systems by 31.8% in the first quarter. Quarry LP now owns 1,082 shares of the technology company's stock valued at $44,000 after acquiring an additional 261 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Varonis Systems by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 85,255 shares of the technology company's stock valued at $3,449,000 after acquiring an additional 284 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Varonis Systems by 179.1% during the second quarter. Bessemer Group Inc. now owns 494 shares of the technology company's stock worth $25,000 after purchasing an additional 317 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Varonis Systems by 5.5% during the second quarter. Benjamin Edwards Inc. now owns 6,692 shares of the technology company's stock worth $340,000 after purchasing an additional 351 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Varonis Systems by 5.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,049 shares of the technology company's stock worth $408,000 after purchasing an additional 393 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

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.

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