UBS Maintains Buy on Varonis Systems, Raises Price Target to $58

Why Is Varonis (VRNS) Up 1.9% Since Last Earnings Report?

Varonis Systems (VRNS) reported Q2 2026 earnings of 4 cents per share, beating consensus estimates of 1 cent, with revenues of $180 million exceeding expectations by 1.7%. The company's SaaS transition drove growth with SaaS ARR reaching $726 million (up 52% YoY), and it returned to operating profitability. Management raised full-year 2026 guidance, expecting revenues of $735-$739 million (18-19% YoY growth) and free cash flow of $105-$110 million. Despite strong fundamentals, VRNS received a Zacks Rank #3 (Hold) rating with an F value score.

Shares of software companies are trading higher, possibly amid broader market strength as promising economic data and easing oil prices reduce rate-hike concerns. Reports suggesting Silver Lake is in talks to acquire Workday may be lifting related peers.

Citigroup Maintains Neutral on Varonis Systems, Raises Price Target to $45

Piper Sandler Maintains Overweight on Varonis Systems, Raises Price Target to $58