Varonis Systems (NASDAQ:VRNS) PT Raised to $50.00

Varonis Systems (NASDAQ:VRNS) had its price target lifted by investment analysts at Robert W. Baird from $48.00 to $50.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 9.55% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Truist Financial reiterated a “buy” rating and issued a $55.00 target price (up from $50.00) on shares of Varonis Systems in a research note on Wednesday, March 13th. Royal Bank of Canada restated an “outperform” rating and set a $56.00 target price on shares of Varonis Systems in a research note on Friday, March 15th. DA Davidson reiterated a “neutral” rating and set a $45.00 price target (up from $37.00) on shares of Varonis Systems in a report on Thursday, January 18th. Citigroup raised their price objective on shares of Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Finally, Wedbush raised shares of Varonis Systems from a “neutral” rating to an “outperform” rating and increased their price target for the company from $35.00 to $65.00 in a report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.06.

Varonis Systems Stock Performance

Shares of NASDAQ VRNS opened at $45.64 on Tuesday. The business’s 50-day simple moving average is $46.75 and its 200-day simple moving average is $44.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.50 and a current ratio of 2.50. Varonis Systems has a 52 week low of $23.09 and a 52 week high of $52.88. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of -49.61 and a beta of 0.84.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, February 5th. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The company had revenue of $154.10 million for the quarter, compared to the consensus estimate of $151.64 million. As a group, equities research analysts expect that Varonis Systems will post -0.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gili Iohan sold 19,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the sale, the director now owns 19,263 shares in the company, valued at approximately $973,552.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ofer Segev sold 5,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.13, for a total transaction of $260,650.00. Following the completion of the sale, the director now directly owns 75,682 shares of the company’s stock, valued at approximately $3,945,302.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gili Iohan sold 19,500 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total value of $985,530.00. Following the completion of the transaction, the director now directly owns 19,263 shares in the company, valued at approximately $973,552.02. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

A number of hedge funds have recently added to or reduced their stakes in VRNS. Vanguard Group Inc. lifted its position in shares of Varonis Systems by 1.6% during the third quarter. Vanguard Group Inc. now owns 11,251,092 shares of the technology company’s stock worth $343,608,000 after purchasing an additional 180,082 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Varonis Systems by 53.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 288,828 shares of the technology company’s stock valued at $13,078,000 after purchasing an additional 100,324 shares during the period. Lisanti Capital Growth LLC bought a new position in shares of Varonis Systems in the 3rd quarter valued at about $5,257,000. Lord Abbett & CO. LLC acquired a new stake in shares of Varonis Systems during the 3rd quarter worth approximately $36,317,000. Finally, California Public Employees Retirement System raised its stake in shares of Varonis Systems by 11.2% during the third quarter. California Public Employees Retirement System now owns 199,139 shares of the technology company’s stock worth $6,082,000 after buying an additional 20,058 shares during the last quarter. 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.