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Investing.com - TD Cowen raised its price target on Varonis Systems (NASDAQ:VRNS) to $68.00 from $62.00 on Friday, while maintaining a Buy rating on the cybersecurity firm’s stock. The new target sits within the analyst range of $47-$80, with the stock currently trading near its 52-week high of $63.90. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
The firm’s analyst cited expectations that current demand trends for Varonis should remain strong, particularly noting strong third-quarter trends for the data security company. This optimism is supported by the company’s impressive 81.46% gross profit margin and 14.29% revenue growth over the last twelve months.
TD Cowen kept its fiscal year 2025 estimates unchanged, awaiting more details about management’s anticipated revenue synergies from the integration of SlashNext, which gives Varonis a foothold in the $5.2 billion email security market.
The research firm reaffirmed that Varonis remains its top small and mid-cap (SMID) pick in the cybersecurity sector.
The price target increase represents continued confidence in Varonis Systems’ business prospects and strategic direction in the cybersecurity market.
In other recent news, Varonis Systems reported a strong performance in the second quarter of 2025, highlighting a notable increase in revenue and annual recurring revenue (ARR). Despite these gains, the company’s stock experienced a slight decline in aftermarket trading, although this is not the focus of our report. These developments underscore Varonis Systems’ ability to drive growth in a competitive market. The company’s earnings call revealed these financial improvements, which are crucial for investors to consider. Analysts have not yet provided any upgrades or downgrades following the earnings report. These recent developments at Varonis Systems reflect the company’s ongoing progress and strategic focus. Investors will likely keep a close eye on how these financial results influence future performance.
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