Varonis Systems' (VRNS) Buy Rating Reaffirmed at Needham & Company LLC

Key Points

• Varonis Systems received a "buy" rating from Needham & Company LLC, which has set a target price of $70.00, indicating a potential upside of 23.15% from the current price.
• Continuing positive sentiment, several analysts including Morgan Stanley and UBS Group have raised their target prices for Varonis Systems, with an average price target of $61.65.
• Despite these ratings, Varonis Systems' stock recently declined by 3.7% and has a market capitalization of $6.37 billion with a reported earnings per share of $0.03 for the last quarter.

Varonis Systems (NASDAQ:VRNS - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $70.00 target price on the technology company's stock. Needham & Company LLC's target price would suggest a potential upside of 23.15% from the company's current price.

Several other analysts also recently commented on VRNS. Morgan Stanley increased their target price on shares of Varonis Systems from $59.00 to $66.00 and gave the company an "overweight" rating in a report on Tuesday. Susquehanna boosted their price objective on Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research note on Wednesday, July 30th. Cantor Fitzgerald restated an "overweight" rating and issued a $60.00 target price on shares of Varonis Systems in a research note on Tuesday, July 22nd. UBS Group boosted their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Wedbush lifted their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Varonis Systems currently has a consensus rating of "Moderate Buy" and an average price target of $61.65.

Varonis Systems Stock Down 3.7%

NASDAQ VRNS opened at $56.84 on Wednesday. The business has a fifty day moving average price of $54.28 and a two-hundred day moving average price of $47.51. The stock has a market capitalization of $6.37 billion, a PE ratio of -61.78 and a beta of 0.67. Varonis Systems has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. 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 business had revenue of $152.16 million during the quarter, compared to analyst estimates of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The firm's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the business earned $0.05 EPS. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. Equities analysts expect that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Den Bosch Fred Van sold 3,000 shares of Varonis Systems stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $55.08, for a total value of $165,240.00. Following the completion of the transaction, the director owned 128,666 shares in the company, valued at approximately $7,086,923.28. The trade was a 2.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Guy Melamed sold 51,889 shares of the business'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 value 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 $25,930,170.20. The trade was a 9.93% 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 over the last 90 days. Company insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. grew its stake in Varonis Systems by 179.1% during the 2nd quarter. Bessemer Group Inc. now owns 494 shares of the technology company's stock valued at $25,000 after purchasing an additional 317 shares during the last quarter. Quarry LP grew its stake in shares of Varonis Systems by 31.8% during the 1st 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 increased its holdings in shares of Varonis Systems by 344.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,213 shares of the technology company's stock valued at $62,000 after purchasing an additional 940 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Varonis Systems during the 1st quarter valued at approximately $69,000. Finally, NBC Securities Inc. increased its holdings in Varonis Systems by 100,200.0% in the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock valued at $81,000 after buying an additional 2,004 shares in the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

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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