JPMorgan Chase & Co. Issues Positive Forecast for Varonis Systems (NASDAQ:VRNS) Stock Price

Key Points

• JPMorgan Chase & Co. has increased its target price for Varonis Systems (VRNS) from $61.00 to $70.00, indicating a potential upside of 20.07% from the stock's previous close.
• The current average rating for Varonis Systems stock is a "Moderate Buy" from 14 analysts, with a consensus target price of $63.12.
• Varonis Systems reported a 16.7% year-over-year revenue growth with Q2 earnings exceeding expectations, highlighting strong performance despite a negative net margin.

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $61.00 to $70.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the technology company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 20.07% from the stock's previous close.

A number of other research analysts have also recently issued reports on VRNS. Wells Fargo & Company raised shares of Varonis Systems from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $51.00 to $70.00 in a research note on Monday, August 11th. Jefferies Financial Group raised shares of 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. Wedbush reissued an "outperform" rating and issued a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, September 3rd. Robert W. Baird lifted their price objective on shares of Varonis Systems from $58.00 to $63.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $70.00 price objective on shares of Varonis Systems in a research note on Wednesday, September 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $63.12.

Varonis Systems Stock Down 2.6%

Shares of VRNS opened at $58.30 on Wednesday. Varonis Systems has a 12 month low of $36.53 and a 12 month high of $60.58. The firm's 50 day moving average is $56.16 and its 200-day moving average is $49.02. The stock has a market capitalization of $6.53 billion, a PE ratio of -63.37 and a beta of 0.67. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.32.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $152.16 million for the quarter, compared to analysts' expectations of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The business's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the firm 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. Equities research analysts forecast that Varonis Systems will post -0.83 EPS for the current year.

Insider Buying and Selling

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $55.08, for a total value of $165,240.00. Following the sale, the director owned 128,666 shares in the company, valued at $7,086,923.28. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Guy Melamed sold 1,500 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $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 worth $6,429,405 in the last 90 days. Company insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Varonis Systems

Hedge funds have recently modified their holdings of the business. Bessemer Group Inc. lifted its holdings 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 during the period. Quarry LP lifted its holdings in shares of Varonis Systems by 31.8% during the first quarter. Quarry LP now owns 1,082 shares of the technology company's stock worth $44,000 after purchasing an additional 261 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Varonis Systems by 344.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,213 shares of the technology company's stock worth $62,000 after purchasing an additional 940 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Varonis Systems during the first quarter worth $69,000. Finally, NBC Securities Inc. lifted its holdings in shares of Varonis Systems by 100,200.0% during the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock worth $81,000 after purchasing an additional 2,004 shares during the period. Institutional investors and hedge funds 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.

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