Fintel reports that on October 16, 2023, Morgan Stanley upgraded their outlook for Varonis Systems (NASDAQ:VRNS) from Equal-Weight to Overweight .
Analyst Price Forecast Suggests 15.91% Upside
As of October 5, 2023, the average one-year price target for Varonis Systems is 35.44. The forecasts range from a low of 27.27 to a high of $66.15. The average price target represents an increase of 15.91% from its latest reported closing price of 30.58.
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The projected annual revenue for Varonis Systems is 537MM, an increase of 9.90%. The projected annual non-GAAP EPS is 0.27.
What is the Fund Sentiment?
There are 523 funds or institutions reporting positions in Varonis Systems. This is a decrease of 24 owner(s) or 4.39% in the last quarter. Average portfolio weight of all funds dedicated to VRNS is 0.28%, an increase of 2.86%. Total shares owned by institutions increased in the last three months by 1.33% to 119,390K shares. 
The put/call ratio of VRNS is 0.18, indicating a bullish outlook.
What are Other Shareholders Doing?
First Trust Advisors holds 3,744K shares representing 3.41% ownership of the company. In it's prior filing, the firm reported owning 3,725K shares, representing an increase of 0.50%. The firm increased its portfolio allocation in VRNS by 1.55% over the last quarter.
Clearbridge Investments holds 3,644K shares representing 3.32% ownership of the company. In it's prior filing, the firm reported owning 3,584K shares, representing an increase of 1.65%. The firm decreased its portfolio allocation in VRNS by 1.61% over the last quarter.
Soma Equity Partners holds 3,500K shares representing 3.19% ownership of the company. No change in the last quarter.
CIBR - First Trust NASDAQ Cybersecurity ETF holds 3,295K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 3,379K shares, representing a decrease of 2.56%. The firm decreased its portfolio allocation in VRNS by 3.66% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,193K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 3,150K shares, representing an increase of 1.33%. The firm decreased its portfolio allocation in VRNS by 4.19% over the last quarter.
Varonis Systems Background Information
(This description is provided by the company.)
Varonis is a pioneer in data security and analytics, fighting a different battle than conventional cybersecurity companies. Varonis focuses on protecting enterprise data: sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property. The Varonis Data Security Platform detects insider threats and cyberattacks by analyzing data, account activity and user behavior; prevents and limits disaster by locking down sensitive and stale data; and efficiently sustains a secure state with automation. With a focus on data security, Varonis serves a variety of use cases, including governance, compliance, classification and threat analytics. Varonis started operations in 2005 and has customers spanning firms in the financial services, public, healthcare, industrial, insurance, energy and utilities, consumer and retail, technology, media and entertainment and education sectors.
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