Brokerages Set Varonis Systems, Inc. (NASDAQ:VRNS) PT at $56.33

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been given a consensus rating of “Moderate Buy” by the eighteen research firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $56.33.

A number of analysts have issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Susquehanna upped their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Truist Financial reissued a “buy” rating and issued a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. Robert W. Baird raised Varonis Systems from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $52.00 to $60.00 in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upgraded Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $50.00 to $54.00 in a report on Friday, June 14th.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00. Following the completion of the sale, the insider now directly owns 494,114 shares of the company’s stock, valued at $25,219,578.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. William Blair Investment Management LLC grew its position in shares of Varonis Systems by 1.1% during the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after acquiring an additional 23,231 shares during the last quarter. O Neil Global Advisors Inc. boosted its stake in Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after purchasing an additional 220 shares during the period. Y.D. More Investments Ltd grew its position in Varonis Systems by 31.8% during the 2nd quarter. Y.D. More Investments Ltd now owns 10,406 shares of the technology company’s stock worth $499,000 after purchasing an additional 2,513 shares during the last quarter. Quest Partners LLC increased its stake in Varonis Systems by 268.6% in the second quarter. Quest Partners LLC now owns 14,887 shares of the technology company’s stock valued at $714,000 after purchasing an additional 10,848 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Varonis Systems by 2.0% in the second quarter. Arizona State Retirement System now owns 30,543 shares of the technology company’s stock valued at $1,465,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $53.75 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market cap of $6.03 billion, a P/E ratio of -57.18 and a beta of 0.82. The firm’s 50 day moving average price is $46.57 and its 200-day moving average price is $46.68. Varonis Systems has a one year low of $29.25 and a one year high of $57.00.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The company had revenue of $130.35 million for the quarter, compared to analysts’ expectations of $124.83 million. During the same period in the prior year, the firm earned ($0.35) earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts predict that Varonis Systems will post -0.83 EPS for the current year.

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.