Varonis Systems (NASDAQ:VRNS) Upgraded to “Strong-Buy” by Baird R W

Baird R W upgraded shares of Varonis Systems (NASDAQ:VRNS) from a hold rating to a strong-buy rating in a report issued on Tuesday, Zacks.com reports.

A number of other equities research analysts also recently commented on VRNS. Wells Fargo & Company boosted their target price on Varonis Systems from $45.00 to $48.00 and gave the stock an equal weight rating in a research report on Tuesday. Piper Sandler upped their price objective on Varonis Systems from $45.00 to $48.00 and gave the stock a neutral rating in a report on Tuesday. Barclays raised their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the company an overweight rating in a report on Tuesday. Needham & Company LLC reaffirmed a hold rating on shares of Varonis Systems in a research note on Tuesday. Finally, Robert W. Baird raised shares of Varonis Systems from a neutral rating to an outperform rating and lifted their price objective for the stock from $52.00 to $60.00 in a research note on Tuesday. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $56.33.

Varonis Systems Trading Down 3.6 %

Varonis Systems stock opened at $53.17 on Tuesday. Varonis Systems has a 1 year low of $29.10 and a 1 year high of $57.00. The firm’s 50 day moving average price is $46.09 and its 200-day moving average price is $46.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.38 and a quick ratio of 2.38. The stock has a market cap of $5.93 billion, a P/E ratio of -56.56 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company had revenue of $130.35 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted ($0.35) earnings per share. On average, equities analysts predict that Varonis Systems will post -0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In related news, CEO Yakov Faitelson sold 284,211 shares of the firm’s 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 transaction, the chief executive officer now owns 1,452,922 shares of the company’s stock, valued at approximately $65,715,662.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. EFG Asset Management North America Corp. raised its position in Varonis Systems by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock valued at $2,181,000 after purchasing an additional 216 shares in the last quarter. Hanseatic Management Services Inc. raised its position in shares of Varonis Systems by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock worth $770,000 after acquiring an additional 275 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of Varonis Systems by 3.7% during the 4th quarter. Natixis Advisors L.P. now owns 10,441 shares of the technology company’s stock worth $472,000 after purchasing an additional 370 shares during the last quarter. Natixis Advisors LLC boosted its position in Varonis Systems by 3.5% during the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after purchasing an additional 401 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Varonis Systems by 87.2% in the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after buying an additional 429 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Company Profile

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.