Piper Sandler Cuts Varonis Systems (NASDAQ:VRNS) Price Target to $50.00

Varonis Systems (NASDAQ:VRNS) had its target price decreased by Piper Sandler from $55.00 to $50.00 in a report released on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the technology company’s stock.

A number of other brokerages have also issued reports on VRNS. Jefferies Financial Group cut their target price on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. UBS Group upped their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. DA Davidson decreased their price objective on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Finally, Barclays raised their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.35.

Varonis Systems Trading Down 0.2 %

NASDAQ:VRNS opened at $44.24 on Monday. The company has a market cap of $4.98 billion, a PE ratio of -58.99 and a beta of 0.83. Varonis Systems has a 52 week low of $41.13 and a 52 week high of $60.58. The business’s 50 day moving average is $48.70 and its two-hundred day moving average is $51.69. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. Varonis Systems’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.22) EPS. On average, analysts predict that Varonis Systems will post -0.73 EPS for the current year.

Insider Activity at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares in the company, valued at $27,096,912.60. This represents a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman James O’boyle sold 50,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Varonis Systems

Several institutional investors have recently modified their holdings of VRNS. Thrivent Financial for Lutherans raised its position in shares of Varonis Systems by 4.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after acquiring an additional 127,129 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Varonis Systems by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company’s stock worth $147,801,000 after purchasing an additional 29,050 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Varonis Systems by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock valued at $106,396,000 after purchasing an additional 23,231 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after acquiring an additional 147,081 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Varonis Systems by 6.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock worth $54,405,000 after buying an additional 59,218 shares during 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.