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Investing.com - DA Davidson raised its price target on Varonis Systems (NASDAQ:VRNS) to $55.00 from $50.00 on Monday, while maintaining a Neutral rating on the cybersecurity company’s stock. The stock currently trades at $62.42, near its 52-week high of $63.90, according to InvestingPro data.
The research firm noted that Varonis shares have shown significant strength recently, outperforming the iShares Expanded Tech-Software Sector ETF (IGV) by 9% over the past month and by 19% over the past three months, despite still underperforming by 19% over the past year. InvestingPro data shows impressive momentum with a 48.81% return over the past six months.
DA Davidson attributed the recent share price strength to several factors, including increased investor desire for cybersecurity exposure among small and mid-cap investors, outflows from Check Point Software (NASDAQ:CHKP) due to the pending Palo Alto Networks acquisition, and a limited number of compelling small and mid-cap cybersecurity investment options.
The firm’s analysts expressed caution regarding Varonis shares, citing "increasingly frothy valuation" as a concern, along with "a continued flow of mixed feedback from recent checks."
Despite raising the price target, DA Davidson maintained its Neutral stance on Varonis Systems , indicating no change to its fundamental view of the company.
In other recent news, Varonis Systems announced the launch of Varonis Interceptor, an AI-powered email security solution aimed at combating sophisticated phishing attacks. The product employs advanced technologies such as natural-language processing and computer vision to identify and neutralize threats in real time. Meanwhile, Cantor Fitzgerald maintained an Overweight rating on Varonis Systems, highlighting the company’s strong second-quarter 2025 performance, which exceeded consensus expectations in revenue, annual recurring revenue, and free cash flow. The company is accelerating its transition to a Software-as-a-Service model, with SaaS now comprising 69% of its annual recurring revenue.
UBS raised its price target for Varonis Systems to $70, citing positive feedback from customer and partner interactions that support the company’s competitive position and SaaS expansion. Truist Securities reiterated its Buy rating with a $60 price target, expressing an "incrementally positive" outlook after meetings with Varonis executives. Additionally, B.Riley initiated coverage with a Buy rating and set a price target of $80, recognizing the increasing demand for data security solutions. These developments reflect the ongoing interest and confidence in Varonis Systems from various analyst firms.
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