Varonis Systems (NASDAQ:VRNS) PT Raised to $62.00

Varonis Systems (NASDAQ:VRNS) had its price objective hoisted by Robert W. Baird from $60.00 to $62.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 10.10% from the company’s previous close.

A number of other analysts also recently weighed in on VRNS. 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 report on Tuesday, July 30th. Royal Bank of Canada upped 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. Piper Sandler upped 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, July 30th. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company upped their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.63.

Varonis Systems Stock Down 0.5 %

NASDAQ:VRNS opened at $56.31 on Wednesday. The firm’s 50-day moving average price is $56.08 and its 200-day moving average price is $49.68. The company has a market capitalization of $6.28 billion, a PE ratio of -59.90 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44. Varonis Systems has a 1-year low of $30.89 and a 1-year high of $60.58.

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

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Several institutional investors have recently made changes to their positions in VRNS. Fidelis Capital Partners LLC bought a new position in shares of Varonis Systems in the 1st quarter worth approximately $63,000. International Assets Investment Management LLC increased its holdings in Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,442 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Varonis Systems in the 2nd quarter worth approximately $215,000. O Neil Global Advisors Inc. increased its holdings in Varonis Systems by 4.8% in the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after acquiring an additional 220 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Varonis Systems in the 2nd quarter worth approximately $260,000. 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.