Varonis Systems (VRNS)

• Market cap: $4.6B
• 1 day: 1.11%
• 5 days: -2.71%
• 1 month: -1.66%
• 3 months: -7.76%
• 6 months: -25.66%
• Year to date: -7.76%
• 1 year: -12.63%
• 5 years: 106.57%
• 10 years: 396.96%
• Sector: Information Technology
• Industry: Prepackaged Software

Fund manager confidence

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

787% more call options, than puts

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

35% more repeat investments, than reductions

Existing positions increased: 132 | Existing positions reduced: 98

35% more first-time investments, than exits

New positions opened: 70 | Existing positions closed: 52

4.14% more ownership

Funds ownership: 99.55% [Q3] → 103.69% (+4.14%) [Q4]

4% more funds holding

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

18% less capital invested

Capital invested by funds: $6.31B [Q3] → $5.17B (-$1.14B) [Q4]

90% less funds holding in top 10

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

Research analyst outlook

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

• Low target: $45 10% upside
• Avg. target: $52 28% upside
• High target: $67 64% upside

6 analyst ratings

• positive: 2 33%
• neutral: 4 67%
• negative: 0 0%

Jefferies Joseph Gallo 67% 1-year accuracy 14 / 21 met price target	10% upside $45	Hold Maintained	31 Mar 2025
Wells Fargo Andrew Nowinski 38% 1-year accuracy 14 / 37 met price target	12% upside $46	Equal-Weight Maintained	5 Feb 2025
Needham Matt Dezort 10% 1-year accuracy 1 / 10 met price target	64% upside $67	Buy Reiterated	5 Feb 2025
Citigroup Fatima Boolani 47% 1-year accuracy 16 / 34 met price target	12% upside $46	Neutral Maintained	17 Jan 2025
Cantor Fitzgerald Jonathan Ruykhaver 39% 1-year accuracy 7 / 18 met price target	47% upside $60	Overweight Initiated	9 Jan 2025