Varonis Systems jumps after raising FY forecasts, surprise quarterly profit

Varonis Systems

29/04/2026 10:52

** Shares of data security service provider Varonis Systems VRNS.O climb 15.9% to $29.48 premarket

** Raises FY 2026 revenue forecast to $731 mln - $737 mln from prior range of $722 mln - $730 mln

** Also raises FY adjusted EPS outlook to 11 cents - 12 cents, from prior range of 6 cents - 10 cents

** VRNS reports Q1 revenue of $173.1 mln, beating analysts' estimates of $165.5 mln, according to data compiled by LSEG, driven by a 69% YoY jump in SaaS annual recurring revenue

** Also reports surprise Q1 adjusted profit of 6 cents a share, compared to analysts' consensus forecast of a loss of 5 cents a share

** 18 of 23 analysts covering the stock rate it "buy" or higher, rest going for "hold"; median PT is $34

** Brokerage RBC raises PT on stock to $36 from $30 post earnings

** As of last close, VRNS shares down 22.4% YTD

(Reporting by Shashwat Chauhan in Bengaluru)

((Shashwat.Chauhan@thomsonreuters.com))