Varonis Systems' (VRNS) "Outperform" Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Varonis Systems' stock has been reaffirmed with an "outperform" rating by Royal Bank of Canada, with a price target of $64.00, suggesting a potential upside of 15.12%.
• The consensus rating for Varonis is "Moderate Buy", with a target price averaging $61.65 from analysts, while the company's stock trades at around $55.59.
• Varonis reported earnings of $0.03 per share for the last quarter, exceeding analyst expectations, with revenue up 16.7% year-over-year, amounting to $152.16 million.

Varonis Systems (NASDAQ:VRNS - Get Free Report)'s stock had its "outperform" rating reaffirmed by investment analysts at Royal Bank Of Canada in a note issued to investors on Wednesday,Benzinga reports. They currently have a $64.00 price target on the technology company's stock. Royal Bank Of Canada's target price indicates a potential upside of 15.12% from the stock's previous close.

VRNS has been the subject of several other reports. Wedbush reaffirmed an "outperform" rating and issued a $65.00 target price on shares of Varonis Systems in a research report on Wednesday. Citigroup raised their target price on shares of Varonis Systems from $51.00 to $58.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Jefferies Financial Group raised shares of Varonis Systems from a "hold" rating to a "buy" rating and lifted their price target for the company from $50.00 to $65.00 in a research report on Thursday, July 24th. Wells Fargo & Company raised shares of Varonis Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $51.00 to $70.00 in a research report on Monday, August 11th. Finally, Morgan Stanley lifted their price target on shares of Varonis Systems from $59.00 to $66.00 and gave the company an "overweight" rating in a research report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Varonis Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.65.

Varonis Systems Trading Down 2.2%

VRNS traded down $1.25 during trading on Wednesday, hitting $55.59. 249,221 shares of the stock traded hands, compared to its average volume of 1,544,749. The firm has a market capitalization of $6.23 billion, a P/E ratio of -60.34 and a beta of 0.67. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a 50-day moving average of $54.28 and a 200 day moving average of $47.51. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The business 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 firm's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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 research analysts anticipate that Varonis Systems will post -0.83 EPS for the current year.

Insider Transactions at Varonis Systems

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $55.08, for a total transaction of $165,240.00. Following the completion of the sale, the director directly owned 128,666 shares in the company, valued at approximately $7,086,923.28. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Guy Melamed sold 1,500 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $59.59, for a total transaction of $89,385.00. Following the sale, the chief financial officer owned 412,105 shares of the company's stock, valued at approximately $24,557,336.95. This represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,386 shares of company stock valued at $6,429,405. 2.30% of the stock is owned by company insiders.

Institutional Trading of Varonis Systems

A number of institutional investors and hedge funds have recently bought and sold shares of VRNS. Northern Trust Corp grew its stake in shares of Varonis Systems by 8.2% in the fourth quarter. Northern Trust Corp now owns 1,122,939 shares of the technology company's stock worth $49,892,000 after acquiring an additional 84,796 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Varonis Systems by 28.3% in the fourth quarter. Ameriprise Financial Inc. now owns 1,953,810 shares of the technology company's stock worth $86,807,000 after acquiring an additional 431,306 shares during the period. Algert Global LLC bought a new stake in shares of Varonis Systems in the fourth quarter worth approximately $1,575,000. Captrust Financial Advisors grew its stake in shares of Varonis Systems by 66.6% in the fourth quarter. Captrust Financial Advisors now owns 13,765 shares of the technology company's stock worth $612,000 after acquiring an additional 5,502 shares during the period. Finally, Crestline Management LP bought a new stake in shares of Varonis Systems in the fourth quarter worth approximately $4,035,000. 95.65% of the stock is currently owned by 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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