DA Davidson Lowers Varonis Systems (NASDAQ:VRNS) Price Target to $47.00

Varonis Systems (NASDAQ:VRNS) had its price objective decreased by DA Davidson from $50.00 to $47.00 in a report released on Thursday,Benzinga reports. DA Davidson currently has a neutral rating on the technology company’s stock.

A number of other analysts also recently weighed in on VRNS. Robert W. Baird increased their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Barclays boosted their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Piper Sandler lifted their price objective on Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. increased their price target on Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Varonis Systems presently has an average rating of “Moderate Buy” and a consensus target price of $59.80.

Varonis Systems Stock Down 1.8 %

Shares of NASDAQ:VRNS opened at $47.10 on Thursday. The company has a fifty day moving average of $53.11 and a 200-day moving average of $51.36. Varonis Systems has a 52-week low of $41.13 and a 52-week high of $60.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market capitalization of $5.30 billion, a PE ratio of -62.80 and a beta of 0.80.

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

Insider Transactions at Varonis Systems

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VRNS. Diversified Trust Co bought a new stake in shares of Varonis Systems during the 2nd quarter worth $575,000. Assenagon Asset Management S.A. raised its position in Varonis Systems by 5.8% in the second quarter. Assenagon Asset Management S.A. now owns 134,086 shares of the technology company’s stock worth $6,432,000 after acquiring an additional 7,398 shares during the period. Raymond James & Associates boosted its stake in Varonis Systems by 11.8% in the second quarter. Raymond James & Associates now owns 90,007 shares of the technology company’s stock valued at $4,318,000 after acquiring an additional 9,533 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Varonis Systems by 3.3% during the 2nd quarter. Baillie Gifford & Co. now owns 19,804 shares of the technology company’s stock valued at $950,000 after acquiring an additional 628 shares during the period. Finally, EFG Asset Management North America Corp. increased its stake in shares of 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 worth $2,181,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other 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.