Varonis Systems (NASDAQ:VRNS) Price Target Increased to $70.00 by Analysts at Stifel Nicolaus

Varonis Systems (NASDAQ:VRNS) had its price objective hoisted by stock analysts at Stifel Nicolaus from $52.00 to $70.00 in a report issued on Tuesday, April 30th, BenzingaRatingsTable reports. The brokerage currently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price objective points to a potential downside of 0.33% from the stock’s current price.

A number of other brokerages have also recently weighed in on VRNS. Morgan Stanley lifted their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Wedbush raised shares of Varonis Systems from a “neutral” rating to an “outperform” rating and set a $85.00 price target on the stock in a research report on Tuesday, April 30th. UBS Group lifted their price target on shares of Varonis Systems from $68.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Oppenheimer reduced their price target on shares of Varonis Systems from $80.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 12th. Finally, JMP Securities cut shares of Varonis Systems from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 12th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $71.52.

Varonis Systems stock opened at $70.23 on Tuesday. The company has a market capitalization of $2.12 billion, a P/E ratio of -71.66 and a beta of 1.02. Varonis Systems has a 1 year low of $48.67 and a 1 year high of $83.10.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, April 29th. The technology company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.04). The business had revenue of $56.40 million for the quarter, compared to analyst estimates of $59.36 million. Varonis Systems had a negative net margin of 13.24% and a negative return on equity of 30.00%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned ($0.22) earnings per share. As a group, equities analysts anticipate that Varonis Systems will post -1.75 EPS for the current year.

In other news, EVP David Bass sold 42,416 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $72.54, for a total transaction of $3,076,856.64. Following the transaction, the executive vice president now directly owns 202,833 shares of the company’s stock, valued at $14,713,505.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of VRNS. Vanguard Group Inc lifted its position in shares of Varonis Systems by 33.6% during the third quarter. Vanguard Group Inc now owns 2,630,173 shares of the technology company’s stock worth $192,659,000 after purchasing an additional 661,763 shares in the last quarter. Vanguard Group Inc. raised its holdings in Varonis Systems by 33.6% in the third quarter. Vanguard Group Inc. now owns 2,630,173 shares of the technology company’s stock valued at $192,659,000 after acquiring an additional 661,763 shares in the last quarter. FMR LLC raised its holdings in Varonis Systems by 81.3% in the first quarter. FMR LLC now owns 1,388,442 shares of the technology company’s stock valued at $82,793,000 after acquiring an additional 622,639 shares in the last quarter. Soma Equity Partners LP acquired a new stake in Varonis Systems in the first quarter valued at $35,778,000. Finally, Cadian Capital Management LP acquired a new stake in Varonis Systems in the first quarter valued at $29,940,000. 83.99% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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