TD Cowen Raises Varonis Systems (NASDAQ:VRNS) Price Target to $68.00

Key Points

• TD Cowen has increased its price target for Varonis Systems from $62.00 to $68.00, indicating a potential upside of 12.79% from the current price.
• The stock has received positive ratings from several analysts, with 15 giving it a "Buy" rating, while the consensus price target stands at $64.39.
• Varonis Systems reported a quarterly earnings beat, with revenue increasing by 16.7% year-over-year, though it still posted a negative net margin of 17.30%.

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its price target boosted by equities researchers at TD Cowen from $62.00 to $68.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. TD Cowen's price target would suggest a potential upside of 12.79% from the company's current price.

VRNS has been the subject of a number of other reports. Susquehanna boosted their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a report on Wednesday, July 30th. Wells Fargo & Company raised Varonis Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $51.00 to $70.00 in a research report on Monday, August 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Varonis Systems in a research report on Wednesday, October 8th. Zacks Research lowered Varonis Systems from a "hold" rating to a "strong sell" rating in a research report on Monday. Finally, Robert W. Baird raised their price target on shares of Varonis Systems from $58.00 to $63.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Fifteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $64.39.

Varonis Systems Stock Performance

Shares of VRNS remained flat at $60.29 during trading hours on Friday. The company had a trading volume of 96,994 shares, compared to its average volume of 1,509,395. The firm has a market cap of $6.76 billion, a P/E ratio of -65.53 and a beta of 0.64. The stock's 50 day moving average is $58.33 and its 200-day moving average is $51.22. Varonis Systems has a 12 month low of $36.53 and a 12 month high of $63.90. 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, beating analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $152.16 million during 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 was up 16.7% on a year-over-year basis. During the same period last year, the company 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. On average, equities analysts forecast that Varonis Systems will post -0.83 EPS for the current year.

Insider Buying and Selling

In other news, CFO Guy Melamed sold 1,500 shares of the company'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 transaction, the chief financial officer owned 412,105 shares of the company's stock, valued at $24,557,336.95. This represents a 0.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $55.08, for a total transaction of $165,240.00. Following the transaction, the director owned 128,666 shares of the company's stock, valued at $7,086,923.28. This represents a 2.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,386 shares of company stock worth $6,429,405 in the last ninety days. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VRNS. Norges Bank bought a new stake in shares of Varonis Systems during the 2nd quarter valued at $65,161,000. Voya Investment Management LLC lifted its holdings in shares of Varonis Systems by 98.6% in the first quarter. Voya Investment Management LLC now owns 2,321,317 shares of the technology company's stock worth $93,897,000 after buying an additional 1,152,687 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Varonis Systems by 26.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,084,830 shares of the technology company's stock worth $165,231,000 after buying an additional 848,408 shares in the last quarter. RGM Capital LLC lifted its holdings in shares of Varonis Systems by 45.5% in the first quarter. RGM Capital LLC now owns 2,706,531 shares of the technology company's stock worth $109,479,000 after buying an additional 846,475 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted 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 valued at $48,606,000 after purchasing an additional 740,114 shares during the period. 95.65% of the stock is currently 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.

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