Varonis Systems Inc

VRNS remains in a Stage 2 advancing medium-term uptrend with higher highs and higher lows under rising EMAs and the 50 DMA. A Bullish Exhaustion pattern at the recent high signals waning upside momentum amid extreme overbought conditions, increasing the likelihood of a deeper pullback. Price is now consolidating and pulling back toward the 9/21 EMA zone, which offers a structurally favorable entry. Under a speculative strategy, deferred engagement is warranted until the EMAs hold and momentum confirms renewed strength.

• ↑Q1 2026 SaaS ARR up 29% YoY to $522.6M
• ↑90% SaaS renewal rate underpins strong customer loyalty
• ↓Legacy on-premise business contraction creates revenue predictability risk