Analysts Set Varonis Systems, Inc. (NASDAQ:VRNS) Price Target at $59.19

Varonis Systems, Inc. (NASDAQ:VRNS) has been assigned an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $59.19.

A number of research firms have recently commented on VRNS. Jefferies Financial Group lowered their price target on Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, December 19th. DA Davidson lowered their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Barclays increased their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. UBS Group upped their price target 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. Finally, Piper Sandler raised their price objective on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th.

Insider Buying and Selling

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 stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the sale, the insider now directly owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the company’s stock in a transaction on 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 owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Varonis Systems

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,442 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Varonis Systems during the 3rd quarter valued at approximately $184,000. KBC Group NV boosted its holdings in Varonis Systems by 25.5% in the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after buying an additional 663 shares during the period. Finally, Atom Investors LP purchased a new stake in shares of Varonis Systems during the third quarter worth $224,000. 95.65% of the stock is owned by institutional investors.

Varonis Systems Stock Up 0.5 %

Shares of NASDAQ VRNS opened at $44.58 on Wednesday. The stock has a market capitalization of $5.01 billion, a P/E ratio of -59.44 and a beta of 0.80. The stock’s fifty day moving average is $49.23 and its 200 day moving average is $51.56. 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.

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