Varonis Systems (NASDAQ:VRNS) Coverage Initiated by Analysts at B. Riley

Key Points

• Analysts at B. Riley have initiated coverage on Varonis Systems (NASDAQ:VRNS) with a "buy" rating and a price target of $80.00, indicating a potential upside of 36.61% from its current price.
• Varonis reported $0.03 earnings per share (EPS) in its latest quarter, surpassing analyst expectations, and achieved revenue of $152.16 million, up 16.7% from the prior year.
• Institutional investors hold a significant 95.65% of Varonis’ stock, reflecting strong interest from hedge funds and increasing stakes in the company.

Stock analysts at B. Riley started coverage on shares of Varonis Systems (NASDAQ:VRNS - Get Free Report) in a report issued on Tuesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $80.00 price target on the technology company's stock. B. Riley's price target suggests a potential upside of 36.61% from the company's current price.

VRNS has been the topic of several other research reports. Susquehanna upped their price target on Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research note on Wednesday, July 30th. Needham & Company LLC upped their price target on Varonis Systems from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. DA Davidson upped their price target on Varonis Systems from $47.00 to $50.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. cut their price target on Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Finally, Barclays upped their price objective on Varonis Systems from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Varonis Systems has a consensus rating of "Moderate Buy" and an average target price of $60.47.

Varonis Systems Price Performance

Varonis Systems stock opened at $58.5610 on Tuesday. 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 firm has a market cap of $6.56 billion, a P/E ratio of -63.60 and a beta of 0.71. The business's fifty day moving average is $53.24 and its two-hundred day moving average is $46.92. Varonis Systems has a 52 week low of $36.53 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.The business had revenue of $152.16 million for the quarter, compared to analyst estimates of $147.80 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Insider Activity at Varonis Systems

In related news, Director Den Bosch Fred Van sold 6,000 shares of Varonis Systems stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the director directly owned 131,666 shares of the company's stock, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Guy Melamed sold 51,889 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.10, for a total value of $2,859,083.90. Following the completion of the transaction, the chief financial officer directly owned 470,602 shares in the company, valued at approximately $25,930,170.20. This represents a 9.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,594 shares of company stock valued at $5,789,257 over the last three months. Insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Varonis Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming increased its stake in shares of Varonis Systems by 1,516.5% in the 2nd quarter. State of Wyoming now owns 13,546 shares of the technology company's stock valued at $687,000 after purchasing an additional 12,708 shares during the last quarter. Castleark Management LLC bought a new position in shares of Varonis Systems in the 2nd quarter valued at $4,359,000. CANADA LIFE ASSURANCE Co grew its position in Varonis Systems by 3.4% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 209,656 shares of the technology company's stock worth $10,633,000 after acquiring an additional 6,841 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Varonis Systems by 449.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 16,081 shares of the technology company's stock worth $816,000 after acquiring an additional 13,155 shares during the last quarter. Finally, Sender Co & Partners Inc. bought a new stake in Varonis Systems during the 2nd quarter worth $1,011,000. Institutional investors 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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