Wedbush Increases Varonis Systems (NASDAQ:VRNS) Price Target to $90.00

Varonis Systems (NASDAQ:VRNS) had its target price raised by Wedbush from $85.00 to $90.00 in a report released on Tuesday, July 30th, The Fly reports. They currently have an outperform rating on the technology company’s stock.

Several other equities research analysts also recently issued reports on the company. Stifel Nicolaus increased their target price on Varonis Systems from $52.00 to $70.00 and gave the stock a hold rating in a research report on Tuesday, April 30th. Zacks Investment Research upgraded Varonis Systems from a sell rating to a hold rating in a research report on Friday, June 28th. Jefferies Financial Group upped their price target on shares of Varonis Systems from $73.00 to $77.00 and gave the stock a buy rating in a report on Tuesday, April 30th. BidaskClub raised shares of Varonis Systems from a buy rating to a strong-buy rating in a report on Saturday, July 27th. Finally, UBS Group upped their price target on shares of Varonis Systems from $68.00 to $80.00 and gave the stock an outperform rating in a report on Tuesday, April 30th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $74.00.

Shares of NASDAQ VRNS traded up $0.23 during midday trading on Tuesday, reaching $70.51. The company’s stock had a trading volume of 147,300 shares, compared to its average volume of 394,538. Varonis Systems has a 12-month low of $48.67 and a 12-month high of $80.00. The firm has a 50 day moving average price of $68.42 and a 200-day moving average price of $63.73. The stock has a market capitalization of $2.11 billion, a P/E ratio of -71.95 and a beta of 0.92.

In other Varonis Systems news, Director Ohad Korkus sold 6,861 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $80.00, for a total value of $548,880.00. Following the completion of the sale, the director now directly owns 29,013 shares in the company, valued at $2,321,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James O’boyle sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the completion of the sale, the senior vice president now owns 101,379 shares of the company’s stock, valued at $7,836,596.70. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in VRNS. Captrust Financial Advisors raised its position in Varonis Systems by 103.9% in the 2nd quarter. Captrust Financial Advisors now owns 736 shares of the technology company’s stock valued at $46,000 after purchasing an additional 375 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Varonis Systems in the 2nd quarter valued at about $48,000. Wealthcare Advisory Partners LLC purchased a new position in Varonis Systems in the 1st quarter valued at about $83,000. Amundi Pioneer Asset Management Inc. purchased a new position in Varonis Systems in the 1st quarter valued at about $131,000. Finally, Aperio Group LLC purchased a new position in shares of Varonis Systems during the 2nd quarter worth about $192,000. 90.34% of the stock is owned by institutional investors and hedge funds.

About Varonis Systems

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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