Varonis Systems (NASDAQ:VRNS) Given New $30.00 Price Target at Barclays

Posted by William Tyler on Mar 19th, 2023

Varonis Systems (NASDAQ:VRNS – Get Rating) had its price objective raised by Barclays from $29.00 to $30.00 in a research note released on Wednesday morning, The Fly reports. Barclays currently has an equal weight rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on VRNS. Robert W. Baird cut shares of Varonis Systems from an outperform rating to a neutral rating and set a $30.00 price target for the company. in a research report on Monday, January 30th. Jefferies Financial Group cut shares of Varonis Systems from a buy rating to a hold rating and lowered their price target for the company from $30.00 to $26.00 in a research report on Thursday, January 5th. Truist Financial lowered their price target on shares of Varonis Systems from $40.00 to $35.00 in a research report on Monday, January 9th. Piper Sandler lifted their price target on shares of Varonis Systems from $23.00 to $25.00 and gave the company a neutral rating in a research report on Tuesday, February 7th. Finally, Morgan Stanley lifted their target price on shares of Varonis Systems from $22.00 to $24.00 and gave the stock an equal weight rating in a report on Tuesday, February 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Varonis Systems currently has an average rating of Hold and a consensus price target of $30.94.

Varonis Systems Trading Down 1.7 %

NASDAQ:VRNS opened at $25.37 on Wednesday. The company has a 50-day moving average price of $26.35 and a 200-day moving average price of $24.82. Varonis Systems has a 12 month low of $15.61 and a 12 month high of $51.60. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -22.25 and a beta of 0.88.

Varonis Systems (NASDAQ:VRNS – Get Rating) last posted its earnings results on Monday, February 6th. The technology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. Varonis Systems had a negative net margin of 26.29% and a negative return on equity of 23.10%. The firm had revenue of $142.62 million during the quarter, compared to analysts’ expectations of $140.58 million. Equities analysts predict that Varonis Systems will post -0.82 EPS for the current year.

Insider Buying and Selling

In related news, Director Ofer Segev sold 1,500 shares of the firm’s stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $23.78, for a total value of $35,670.00. Following the transaction, the director now directly owns 72,410 shares of the company’s stock, valued at approximately $1,721,909.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Varonis Systems

Institutional investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new stake in Varonis Systems in the 2nd quarter worth $30,000. Private Trust Co. NA purchased a new position in shares of Varonis Systems during the second quarter valued at about $44,000. Captrust Financial Advisors grew its position in shares of Varonis Systems by 35.9% during the first quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock valued at $66,000 after purchasing an additional 366 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Varonis Systems during the third quarter valued at about $68,000. Finally, Toroso Investments LLC purchased a new position in shares of Varonis Systems during the third quarter valued at about $83,000. Hedge funds and other institutional investors own 90.72% of the company’s stock.

Varonis Systems Company Profile

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Varonis Systems, Inc engages in protecting enterprise data such as sensitive files and emails, confidential customer, patient, and employee data, financial records, strategic and product plans, and other intellectual property. It operates through the following geographical segments: North America, EMEA, and Rest of the World.