Varonis Systems (VRNS)

• Market cap: $4.69B
• 1 day: -2.40%
• 5 days: -6.34%
• 1 month: -3.85%
• 3 months: -13.32%
• 6 months: -32.64%
• Year to date: -11.10%
• 1 year: -10.47%
• 5 years: 87.89%
• 10 years: 328.48%
• Sector: Technology
• Industry: Software - Infrastructure

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: 2,406

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

787% more call options, than puts

Call options by funds: $91.9M | Put options by funds: $10.4M

36% more repeat investments, than reductions

Existing positions increased: 132 | Existing positions reduced: 97

35% more first-time investments, than exits

New positions opened: 70 | Existing positions closed: 52

4.8% more ownership

Funds ownership: 98.55% [Q3] → 103.34% (+4.8%) [Q4]

4% more funds holding

Funds holding: 331 [Q3] → 344 (+13) [Q4]

17% less capital invested

Capital invested by funds: $6.24B [Q3] → $5.16B (-$1.08B) [Q4]

90% less funds holding in top 10

Funds holding in top 10: 10 [Q3] → 1 (-9) [Q4]

Research analyst outlook

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

• Low target: $45 14% upside
• Avg. target: $51 30% upside
• High target: $67 70% upside

5 analyst ratings

• positive: 3 60%
• neutral: 2 40%
• negative: 0 0%

Morgan Stanley Hamza Fodderwala 70% 1-year accuracy 21 / 30 met price target	17% upside $46	Overweight Maintained	16 Apr 2025
Barclays Saket Kalia 48% 1-year accuracy 27 / 56 met price target	32% upside $52	Overweight Maintained	14 Apr 2025
Jefferies Joseph Gallo 52% 1-year accuracy 11 / 21 met price target	14% upside $45	Hold Maintained	31 Mar 2025
Wells Fargo Andrew Nowinski 30% 1-year accuracy 11 / 37 met price target	17% upside $46	Equal-Weight Maintained	5 Feb 2025
Needham Matt Dezort 0% 1-year accuracy 0 / 10 met price target	70% upside $67	Buy Reiterated	5 Feb 2025