Varonis Systems (NASDAQ:VRNS) PT Raised to $115.00

Varonis Systems (NASDAQ:VRNS) had its price objective upped by investment analysts at Royal Bank of Canada from $96.00 to $115.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Royal Bank of Canada’s price objective indicates a potential upside of 13.96% from the company’s current price.

A number of other research analysts also recently issued reports on VRNS. BidaskClub raised shares of Varonis Systems from a “hold” rating to a “buy” rating in a research report on Friday, June 26th. Morgan Stanley increased their price objective on shares of Varonis Systems from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Barclays upgraded shares of Varonis Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $82.00 to $110.00 in a research note on Tuesday, June 23rd. Needham & Company LLC increased their price objective on shares of Varonis Systems from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, JMP Securities raised their target price on shares of Varonis Systems from $68.00 to $78.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Varonis Systems presently has a consensus rating of “Buy” and a consensus price target of $92.69.

Shares of Varonis Systems stock traded up $1.56 during trading hours on Tuesday, reaching $100.91. The company’s stock had a trading volume of 10,279 shares, compared to its average volume of 378,285. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s fifty day simple moving average is $85.98 and its two-hundred day simple moving average is $77.49. Varonis Systems has a one year low of $48.95 and a one year high of $100.79. The company has a market capitalization of $3.10 billion, a P/E ratio of -35.16 and a beta of 1.08.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, May 4th. The technology company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.03. The firm had revenue of $54.18 million during the quarter, compared to the consensus estimate of $54.04 million. Varonis Systems had a negative net margin of 34.74% and a negative return on equity of 93.70%. The company’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.37) earnings per share. As a group, research analysts forecast that Varonis Systems will post -2.82 earnings per share for the current year.

In related news, Director Gili Iohan sold 10,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $100.00, for a total value of $1,000,000.00. Following the completion of the transaction, the director now directly owns 24,273 shares of the company’s stock, valued at approximately $2,427,300. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Guy Melamed sold 13,553 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $94.61, for a total value of $1,282,249.33. Following the completion of the transaction, the chief financial officer now directly owns 177,286 shares of the company’s stock, valued at $16,773,028.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,748 shares of company stock valued at $10,029,973. Corporate insiders own 2.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRNS. Parametric Portfolio Associates LLC boosted its holdings in Varonis Systems by 77.9% during the first quarter. Parametric Portfolio Associates LLC now owns 54,345 shares of the technology company’s stock worth $3,460,000 after purchasing an additional 23,802 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Varonis Systems by 1.6% during the first quarter. William Blair Investment Management LLC now owns 1,444,959 shares of the technology company’s stock worth $92,001,000 after purchasing an additional 22,192 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Varonis Systems by 3.0% during the first quarter. Alliancebernstein L.P. now owns 40,420 shares of the technology company’s stock worth $2,574,000 after purchasing an additional 1,170 shares during the last quarter. Credit Suisse AG boosted its holdings in Varonis Systems by 0.5% during the fourth quarter. Credit Suisse AG now owns 677,357 shares of the technology company’s stock worth $52,638,000 after purchasing an additional 3,160 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Varonis Systems by 12.7% during the first quarter. Wells Fargo & Company MN now owns 62,471 shares of the technology company’s stock worth $3,978,000 after purchasing an additional 7,017 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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