Varonis Systems (NASDAQ:VRNS) PT Raised to $52.00

Varonis Systems (NASDAQ:VRNS) had its target price boosted by Robert W. Baird from $50.00 to $52.00 in a research report report published on Friday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other research analysts have also recently commented on VRNS. JPMorgan Chase & Co. raised Varonis Systems from a neutral rating to an overweight rating and upped their target price for the company from $50.00 to $54.00 in a research note on Friday, June 14th. Barclays lifted their target price on Varonis Systems from $53.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, July 11th. Needham & Company LLC reissued a hold rating on shares of Varonis Systems in a research note on Monday, May 13th. Finally, Royal Bank of Canada raised their price target on shares of Varonis Systems from $56.00 to $58.00 and gave the stock an outperform rating in a research note on Tuesday, May 7th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $50.56.

Varonis Systems Stock Up 0.0 %

Shares of VRNS opened at $48.49 on Friday. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $45.47 and a 200 day moving average of $46.34. The company has a market cap of $5.41 billion, a PE ratio of -51.59 and a beta of 0.82. Varonis Systems has a 52-week low of $28.15 and a 52-week high of $52.88.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, May 6th. The technology company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). Varonis Systems had a negative net margin of 20.38% and a negative return on equity of 21.33%. The firm had revenue of $114.02 million during the quarter, compared to analyst estimates of $113.81 million. On average, sell-side analysts expect that Varonis Systems will post -0.97 EPS for the current year.

Insiders Place Their Bets

In other Varonis Systems news, CEO Yakov Faitelson sold 284,211 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the sale, the chief executive officer now owns 1,452,922 shares of the company’s stock, valued at approximately $65,715,662.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its position in shares of Varonis Systems by 1,779.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after buying an additional 1,886 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Varonis Systems by 53.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 288,828 shares of the technology company’s stock valued at $13,078,000 after acquiring an additional 100,324 shares during the last quarter. Cerity Partners LLC acquired a new stake in Varonis Systems in the fourth quarter valued at approximately $219,000. Strs Ohio grew its holdings in Varonis Systems by 61.4% in the fourth quarter. Strs Ohio now owns 11,300 shares of the technology company’s stock worth $511,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Xponance Inc. acquired a new position in shares of Varonis Systems during the fourth quarter worth $300,000. Institutional investors own 95.65% of the company’s stock.

About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.