Varonis Systems’ (VRNS) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Varonis Systems (NASDAQ:VRNS) in a research note released on Wednesday,Benzinga reports. They currently have a $70.00 price objective on the technology company’s stock.

VRNS has been the subject of several other reports. Wedbush increased their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Citigroup increased their price objective on Varonis Systems from $51.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. Jefferies Financial Group raised Varonis Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $65.00 in a research note on Thursday, July 24th. DA Davidson increased their price objective on Varonis Systems from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Finally, Morgan Stanley increased their price objective on Varonis Systems from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday. Fourteen investment 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 an average rating of “Moderate Buy” and a consensus price target of $61.65.

Varonis Systems Stock Up 0.5%

Varonis Systems stock opened at $56.03 on Wednesday. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of -60.90 and a beta of 0.67. The firm’s fifty day moving average price is $54.60 and its two-hundred day moving average price is $47.73. Varonis Systems has a 1-year low of $36.53 and a 1-year high of $60.58. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.32.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The company had revenue of $152.16 million during the quarter, compared to the consensus estimate of $147.80 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. 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 research analysts predict that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 owned 128,666 shares in the company, valued at approximately $7,086,923.28. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 51,889 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the completion of the transaction, the chief financial officer owned 470,602 shares of the company’s stock, valued at $25,930,170.20. This trade represents a 9.93% decrease in their ownership of the stock. 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 90 days. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. grew its position in Varonis Systems by 179.1% in the second quarter. Bessemer Group Inc. now owns 494 shares of the technology company’s stock worth $25,000 after acquiring an additional 317 shares in the last quarter. Quarry LP lifted its holdings in shares of Varonis Systems by 31.8% in the 1st quarter. Quarry LP now owns 1,082 shares of the technology company’s stock worth $44,000 after acquiring an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Varonis Systems by 344.3% in 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 stake in shares of Varonis Systems in the 1st quarter valued at $69,000. Finally, NBC Securities Inc. boosted its stake in shares of Varonis Systems by 100,200.0% in the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company’s stock valued at $81,000 after purchasing an additional 2,004 shares in the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

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.