Varonis Systems (NASDAQ:VRNS) Price Target Raised to $48.00

Varonis Systems (NASDAQ:VRNS) had its price target lifted by Wells Fargo & Company from $45.00 to $48.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Several other equities analysts have also issued reports on the stock. Barclays boosted their price target on shares of Varonis Systems from $53.00 to $55.00 and gave the company an overweight rating in a report on Thursday, July 11th. Susquehanna boosted their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the company a positive rating in a report on Tuesday. Royal Bank of Canada boosted their price target on shares of Varonis Systems from $56.00 to $58.00 and gave the company an outperform rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. raised shares of Varonis Systems from a neutral rating to an overweight rating and boosted their price target for the company from $50.00 to $54.00 in a report on Friday, June 14th. Finally, Piper Sandler boosted their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company a neutral rating in a report on Tuesday. Six research 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 MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $56.33.

Varonis Systems Stock Performance

Shares of Varonis Systems stock opened at $51.80 on Tuesday. The firm has a fifty day moving average of $46.22 and a two-hundred day moving average of $46.55. Varonis Systems has a 52 week low of $29.10 and a 52 week high of $57.00. The company has a current ratio of 2.44, a quick ratio of 2.38 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, July 29th. The technology company reported $0.05 EPS 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 18.31%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) EPS. As a group, equities research analysts forecast that Varonis Systems will post -0.83 earnings per share for the current year.

Insider Transactions at Varonis Systems

In other news, CEO Yakov Faitelson sold 284,211 shares of the company’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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Institutional investors and hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC raised 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 purchasing an additional 429 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Varonis Systems in the 1st quarter valued at about $63,000. NBC Securities Inc. bought a new stake in shares of Varonis Systems in the 1st quarter valued at about $68,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Varonis Systems in the 4th quarter valued at about $77,000. Finally, International Assets Investment Management LLC raised its holdings 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 valued at $90,000 after acquiring an additional 1,886 shares during the period. 95.65% of the stock is owned by institutional investors.

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.