Varonis Systems (VRNS) Given New $58.00 Price Target at Barclays

Varonis Systems (NASDAQ:VRNS) had its price objective boosted by equities research analysts at Barclays from $54.00 to $58.00 in a report released on Tuesday. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays’ target price would suggest a potential upside of 7.61% from the company’s previous close.

Several other research analysts have also weighed in on VRNS. Royal Bank of Canada restated a “buy” rating and set a $44.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 18th. Zacks Investment Research upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Thursday, November 2nd. Jefferies Group boosted their price objective on shares of Varonis Systems from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Needham & Company LLC restated a “buy” rating on shares of Varonis Systems in a research note on Friday, November 3rd. Finally, Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Varonis Systems in a research note on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $56.18.

Varonis Systems (NASDAQ VRNS) traded up $1.50 during trading on Tuesday, hitting $53.90. 521,300 shares of the stock traded hands, compared to its average volume of 228,106. The firm has a market cap of $1,458.75, a price-to-earnings ratio of -92.93 and a beta of 0.89. Varonis Systems has a one year low of $26.35 and a one year high of $55.85.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, February 12th. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. The company had revenue of $73.20 million for the quarter, compared to analyst estimates of $66.29 million. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. Varonis Systems’s revenue for the quarter was up 34.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS. equities research analysts predict that Varonis Systems will post -0.48 EPS for the current year.

In other Varonis Systems news, Director Gili Iohan sold 52,569 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $49.93, for a total value of $2,624,770.17. Following the completion of the sale, the director now owns 57,446 shares of the company’s stock, valued at approximately $2,868,278.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yakov Faitelson sold 46,569 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $51.16, for a total transaction of $2,382,470.04. Following the completion of the sale, the chief executive officer now directly owns 211,572 shares of the company’s stock, valued at approximately $10,824,023.52. The disclosure for this sale can be found here. Insiders have sold a total of 276,323 shares of company stock valued at $13,977,286 in the last ninety days. 19.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. bought a new stake in Varonis Systems in the 4th quarter valued at about $9,085,000. OppenheimerFunds Inc. bought a new stake in Varonis Systems in the 4th quarter valued at about $6,700,000. Horseman Capital Management Ltd bought a new stake in Varonis Systems in the 4th quarter valued at about $971,000. Citadel Advisors LLC boosted its holdings in Varonis Systems by 372.5% in the 4th quarter. Citadel Advisors LLC now owns 82,225 shares of the technology company’s stock valued at $3,992,000 after purchasing an additional 64,823 shares during the period. Finally, Stanley Laman Group Ltd. bought a new stake in Varonis Systems in the 4th quarter valued at about $902,000. 84.91% of the stock is owned by hedge funds and other institutional investors.

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About Varonis Systems

Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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