Jefferies Upgrade Varonis Systems from Hold to Buy, Raises PT to $65

Varonis Systems, Inc. (NASDAQ:VRNS) is one of the Best Cybersecurity Stocks to Buy Under $100. On July 24, Jefferies upgraded Varonis Systems, Inc. (NASDAQ:VRNS) stock from Hold to Buy, raising its price target from $50 to $65.

Joseph Gallo from Jefferies raised the rating and price target on VRNS as the analysts believe cybersecurity spend will remain robust and continue to hold a steady percentage of software budgets in the coming years. Varonis Systems offers small-cap exposure to AI in the space. During Q2 2025, the company saw a notable increase in SaaS revenue, growing significantly to $105.9 million from $44.8 million year-over-year. VRNS remains one of Gallo’s favorite stocks for the second half of 2025.

Jefferies Upgrade Varonis Systems from Hold to Buy, Raises PT to $65

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Gallo also pointed out that Varonis is well-positioned to address the increasingly important data governance market as generative AI adoption materializes. The SaaS revenue growth during Q2 is a major indicator of where the company is heading.

Varonis Systems, Inc. (NASDAQ:VRNS) is a data security company that offers a cloud-native data security platform. The company’s system discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.

While we acknowledge the potential of VRNS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VRNS and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.