Varonis Systems shares rose 7.6% on Friday, May 29, 2026. The stock participated in a broad rally across the software sector.
Strong earnings from Snowflake and Dell restored investor confidence in artificial intelligence. These results challenged the narrative that AI would cannibalize enterprise software-as-a-service (SaaS) models. The reports suggest AI is accelerating demand for data platforms and infrastructure.
The positive sentiment lifted other software stocks, including ServiceNow and Palantir. A falling 10-year Treasury yield also supported the rally by reducing discount rates on growth stocks.
The advance brings the year-to-date gain for Varonis to over 6%. The stock remains below its 52-week high established in October 2025.