Varonis Systems (NASDAQ:VRNS) PT Raised to $48.00 at Wells Fargo & Company

Varonis Systems (NASDAQ:VRNS) had its target price boosted by analysts at Wells Fargo & Company from $45.00 to $48.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 12.93% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Barclays boosted their price target on shares of Varonis Systems from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Royal Bank of Canada boosted 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. Susquehanna boosted their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research note on Tuesday. Finally, Piper Sandler boosted their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Varonis Systems currently has an average rating of “Moderate Buy” and an average target price of $55.00.

Varonis Systems Trading Down 0.8 %

Shares of Varonis Systems stock opened at $55.13 on Tuesday. The company has a market capitalization of $6.15 billion, a P/E ratio of -58.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.38 and a current ratio of 2.38. The company has a fifty day moving average of $45.91 and a 200 day moving average of $46.46. Varonis Systems has a fifty-two week low of $28.15 and a fifty-two week high of $57.00.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. The company had revenue of $130.35 million during the quarter, compared to the consensus estimate of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.28%. Varonis Systems’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.35) EPS. On average, sell-side analysts anticipate that Varonis Systems will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yakov Faitelson sold 284,211 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $45.23, for a total value of $12,854,863.53. Following the sale, the chief executive officer now directly owns 1,452,922 shares of the company’s stock, valued at approximately $65,715,662.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Varonis Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position in Varonis Systems by 87.2% in the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after purchasing an additional 429 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Varonis Systems in the 1st quarter worth about $63,000. NBC Securities Inc. purchased a new stake in Varonis Systems in the 1st quarter worth about $68,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Varonis Systems in the 4th quarter worth about $77,000. Finally, International Assets Investment Management LLC grew its stake in Varonis Systems by 1,779.2% in the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after acquiring an additional 1,886 shares in the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

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.