Bullish (BLSH) vs Varonis Systems (VRNS)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Varonis Systems (VRNS) has outperformed Bullish (BLSH) over the past year, losing 22.8% versus a loss of 53.4%. Varonis Systems is the larger company by market cap ($5.61 billion vs $4.76 billion), about 1.2 times the size. On valuation, Bullish trades at a lower forward P/E (43.3x vs 119.7x for Varonis Systems).
Bullish converts more of its revenue into profit, with a net margin of -0.3% versus -20.7%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | BLSH | VRNS |
|---|---|---|
| Share price | $31.41 | $48.88 |
| Market cap | $4.76B | $5.61B |
| 1-day change | -1.29% | -0.16% |
| YTD return | -17.06% | +49.02% |
| 1-year return | -53.40% | -22.79% |
| 5-year return | — | -22.07% |
| Forward P/E | 43.32 | 119.75 |
| EPS (TTM) | $-9.70 | $-1.22 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $244.81B | $623.53M |
| Revenue growth (YoY) | -2.15% | +13.17% |
| Net income (latest FY) | $-764.68M | $-129.32M |
| Gross margin | 0.03% | 78.83% |
| Operating margin | — | -23.50% |
| Net margin | -0.31% | -20.74% |
| 52-week high | $68.00 | $63.90 |
| 52-week low | $20.55 | $19.70 |
| Distance from 52-week high | -53.81% | -23.51% |
| Analyst consensus | buy | none |
| Avg. price target upside | +29.96% | +4.99% |
| Average volume | 1.50M | 1.76M |
| Shares outstanding | 151.65M | 114.86M |
| Employees | 394 | 2,658 |
| Sector | Finance | Technology |
| Industry | Finance: Consumer Services | Computer Software: Prepackaged Software |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- VRNS has outperformed BLSH by 30.6 percentage points over the past year.
- Bullish is more profitable, keeping -0.3 cents of every revenue dollar as net income versus -20.7 cents for Varonis Systems.
- Varonis Systems grew revenue faster in its latest fiscal year (+13.17% vs -2.15%).
- The two companies sit in different sectors: Bullish in Finance and Varonis Systems in Technology.
About Bullish
BLSH stock →Bullish, a global digital asset platform that provides market infrastructure and information services in United States. The company operates Bullish Exchange, a digital assets spot and derivatives exchange that integrates a central limit order book matching engine with automated market making to provide deep and predictable liquidity.
Finance · Finance: Consumer Services · 394 employees
About Varonis Systems
VRNS stock →Varonis Systems, Inc. provides software products and services that continuously discover and classify critical data, remediate exposures, and detect advanced threats with AI-powered technology in North America, Europe, APAC, and rest of worlds.
Technology · Computer Software: Prepackaged Software · 2,658 employees
BLSH vs VRNS FAQ
Which is bigger, Bullish or Varonis Systems?
Varonis Systems (VRNS) is larger, with a market capitalization of $5.61B compared with $4.76B for Bullish (BLSH).
Which stock has performed better over the past year, BLSH or VRNS?
VRNS returned -22.79% over the past 12 months, compared with -53.40% for BLSH (price return, excluding dividends). Past performance does not predict future results.
Are Bullish and Varonis Systems in the same industry?
No. Bullish is in the Finance sector, while Varonis Systems is in Technology.