Varonis Systems (VRNS)

• Market cap: $5.03B
• 1 day: 0.11%
• 5 days: -1.17%
• 1 month: -4.99%
• 3 months: -25.29%
• 6 months: -11.49%
• Year to date: 0.92%
• 1 year: -2.57%
• 5 years: 60.97%
• 10 years: 282.15%
• Sector: Information Technology
• Industry: Prepackaged Software

About: Varonis Systems is a cybersecurity vendor focused on data privacy and security. The firm is currently undergoing a cloud transition as it weans its on-premises customers over to its cloud products that are delivered as software-as-a-service. The New York-based firm was founded in 2005 and went public in 2014.

Employees: 2,233

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

219% more call options, than puts

Call options by funds: $109M | Put options by funds: $34.2M

45% more first-time investments, than exits

New positions opened: 55 | Existing positions closed: 38

14% more capital invested

Capital invested by funds: $5.53B [Q2] → $6.31B (+$782M) [Q3]

4% more funds holding

Funds holding: 317 [Q2] → 331 (+14) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 10 [Q2] → 10 (+0) [Q3]

6% less repeat investments, than reductions

Existing positions increased: 111 | Existing positions reduced: 118

3.78% less ownership

Funds ownership: 103.36% [Q2] → 99.59% (-3.78%) [Q3]

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $47 5% upside
• Avg. target: $60 33% upside
• High target: $70 56% upside

9 analyst ratings

• positive: 6 67%
• neutral: 3 33%
• negative: 0 0%

Cantor Fitzgerald Jonathan Ruykhaver 40% 1-year accuracy 4 / 10 met price target	34% upside $60	Overweight Initiated	9 Jan 2025
Piper Sandler Rob Owens 52% 1-year accuracy 14 / 27 met price target	12% upside $50	Neutral Maintained	6 Jan 2025
Needham Matt Dezort 0% 1-year accuracy 0 / 4 met price target	50% upside $67	Buy Reiterated	6 Jan 2025
Jefferies Joseph Gallo 38% 1-year accuracy 5 / 13 met price target	12% upside $50	Hold Maintained	19 Dec 2024
DA Davidson Rudy Kessinger 55% 1-year accuracy 16 / 29 met price target	5% upside $47	Neutral Maintained	12 Dec 2024