Varonis Systems (NASDAQ:VRNS) Stock Price Up 6.9% After Analyst Upgrade

Key Points

• Varonis Systems shares rose 6.9% after TD Cowen lifted its price target from $40 to $50 and reiterated a buy rating.
• The stock traded as high as $48.58, well above its prior close of $45.38, though volume was far below average during the session.
• Analyst sentiment remains positive overall, with Varonis holding a Moderate Buy consensus rating and a consensus price target of $42.20.

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) shares traded up 6.9% during mid-day trading on Tuesday after TD Cowen raised their price target on the stock from $40.00 to $50.00. TD Cowen currently has a buy rating on the stock. Varonis Systems traded as high as $48.58 and last traded at $48.5270. Approximately 548,204 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,724,927 shares. The stock had previously closed at $45.38.

VRNS has been the topic of a number of other reports. KeyCorp assumed coverage on shares of Varonis Systems in a research report on Tuesday, May 26th. They set a "sector weight" rating on the stock. Wedbush reaffirmed an "outperform" rating and issued a $37.00 price objective on shares of Varonis Systems in a research note on Wednesday, June 24th. DA Davidson increased their target price on shares of Varonis Systems from $30.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price target on shares of Varonis Systems from $38.00 to $39.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Finally, Needham & Company LLC upped their price target on shares of Varonis Systems from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.20.

Institutional Investors Weigh In On Varonis Systems

A number of large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Varonis Systems by 161.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,360 shares of the technology company's stock worth $29,000 after purchasing an additional 839 shares during the period. Signaturefd LLC grew its position in shares of Varonis Systems by 47.8% in the 4th quarter. Signaturefd LLC now owns 995 shares of the technology company's stock worth $33,000 after buying an additional 322 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Varonis Systems during the fourth quarter valued at approximately $37,000. Fifth Third Bancorp raised its holdings in shares of Varonis Systems by 10,694.1% during the first quarter. Fifth Third Bancorp now owns 1,835 shares of the technology company's stock valued at $39,000 after acquiring an additional 1,818 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Varonis Systems by 201.3% in the third quarter. Allworth Financial LP now owns 693 shares of the technology company's stock worth $40,000 after acquiring an additional 463 shares during the period. Institutional investors own 95.65% of the company's stock.

Varonis Systems Price Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 1.69 and a quick ratio of 1.69. The business has a 50 day moving average of $34.61 and a 200 day moving average of $29.54. The company has a market cap of $5.54 billion, a PE ratio of -42.35 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, April 28th. The technology company reported $0.06 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $165.52 million. The firm's quarterly 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. As a group, research analysts predict that Varonis Systems, Inc. will post -1.04 EPS for the current year.

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.