VRNS
Varonis Systems, Inc.

Varonis Systems, Inc.VRNS

Technology · Software - Infrastructure
43.52USD
+2.54%
Sep 23, 2026
VRNS overview ready
AI-Powered Data Discovery and Threat Detection Across Hybrid Environments
Varonis is a data-security pure play focused on data discovery and classification, permissions and access intelligence, exposure remediation, data activity monitoring, threat detection, and newer AI-security controls across hybrid enterprise environments.
Strong narrative exposure
Exposed to the Enterprise Cybersecurity Modernization narrative through Data Security and Cyber Recovery — pure play.
Constructive pullback in an uptrend
Longer-term context reads early trend, with a near-term setup of constructive pullback.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Unremarkable fundamentals
Primary risk
Intense competition in cybersecurity software.
Market Aug 7Filing Jun 30Price action Aug 8Research Aug 4

Conviction Level

NarrativeHeat8.0ThemeHeat8.0PriceAction7.5Valuation3.6CompanyPosition7.3
Price
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Price Action

Constructive pullback in an uptrend
Longer-term context reads early trend, with a near-term setup of constructive pullback.

Key Financials

Market Cap
$5.0B
Avg Volume (60D)
2.1M
60 sessions
Revenue Growth YoY
+13.2%
FY2025 vs FY2024
Gross Margin
+77.1%
Trailing twelve months
Operating Margin
-22.0%
Trailing twelve months
Free Cash Flow Yield
+2.4%
P/E
N/M
EV / Sales
7.0x
Market metrics as of Aug 7, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

Two of the three valuation perspectives say fair; peers is the dissenting view.
Varonis Systems, Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Varonis is a data-security pure play focused on data discovery and classification, permissions and access intelligence, exposure remediation, data activity monitoring, threat detection, and newer AI-security controls across hybrid enterprise environments. VRNS has a strong, direct fit with enterprise cybersecurity modernization.
Opportunity
Moderate opportunity
Enterprise spending to discover and classify sensitive data, reduce excessive access and misconfigurations, monitor data activity, and improve resilience against data theft, ransomware, and AI-enabled data exposure across cloud, SaaS, and on-premises environments.
Key risk
Intense competition in cybersecurity software.

Narrative & Theme

Enterprise Cybersecurity Modernization
Part of Data Security and Cyber Recovery, with strong fit.
VRNS has a strong, direct fit with enterprise cybersecurity modernization.
Narrative HeatHeating up8.0 / 10
Theme HeatHeating up8.0 / 10

Business & Markets

Technology · Software - Infrastructure
What they do

Varonis Systems, Inc. develops and provides AI-powered software solutions that continuously discover, classify, and protect critical data by monitoring access and detecting threats across enterprise environments globally.

How it earns

The company primarily generates revenue through subscription-based Software-as-a-Service (SaaS) offerings.

Products & services
Varonis Data Security Platform
Data security posture management
Data access intelligence
Data discovery & classification
User & entity behavior analytics
Customers & end markets
Enterprises requiring data security and compliance
Organizations in North America, Europe, and APAC
Market position

Varonis is positioned as a leader in data security and analytics software with a comprehensive platform integrating multiple security functions.

Demand drivers
Low cyclicality

Demand for data security solutions tends to be steady and driven by regulatory and threat environments rather than economic cycles.