Piper Sandler Has Lowered Expectations for Varonis Systems (NASDAQ:VRNS) Stock Price

Varonis Systems (NASDAQ:VRNS) had its target price reduced by analysts at Piper Sandler from $55.00 to $50.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s target price would suggest a potential upside of 11.01% from the stock’s current price.

Several other brokerages also recently issued reports on VRNS. Barclays upped their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. DA Davidson lowered their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. UBS Group lifted their price objective on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $59.35.

Varonis Systems Trading Up 1.0 %

Shares of VRNS stock traded up $0.46 on Monday, hitting $45.04. The company had a trading volume of 253,676 shares, compared to its average volume of 745,680. The stock’s 50-day moving average is $49.23 and its two-hundred day moving average is $51.62. Varonis Systems has a twelve month low of $41.13 and a twelve month high of $60.58. The firm has a market cap of $5.07 billion, a P/E ratio of -60.05 and a beta of 0.83. 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 announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate 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 last year, the firm posted ($0.22) EPS. The company’s quarterly revenue was up 21.1% on a year-over-year basis. On average, equities research analysts anticipate that Varonis Systems will post -0.73 earnings per share for the current fiscal year.

Insider Transactions at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the transaction, the chief financial officer now owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of VRNS. Quantbot Technologies LP grew its stake in shares of Varonis Systems by 61.4% in the third quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock worth $6,422,000 after purchasing an additional 43,258 shares during the last quarter. Lisanti Capital Growth LLC boosted its holdings in shares of Varonis Systems by 17.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock valued at $4,198,000 after buying an additional 10,820 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Varonis Systems by 226.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 20,595 shares of the technology company’s stock worth $1,164,000 after buying an additional 14,295 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Varonis Systems by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company’s stock valued at $19,802,000 after acquiring an additional 44,826 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Varonis Systems during the third quarter worth about $1,872,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

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.