Varonis Systems (NASDAQ:VRNS) PT Raised to $50.00 at Robert W. Baird

Varonis Systems (NASDAQ:VRNS) had its price objective boosted by Robert W. Baird from $48.00 to $50.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

VRNS has been the subject of a number of other research reports. JMP Securities restated a market outperform rating and set a $63.00 price objective on shares of Varonis Systems in a research report on Monday, February 5th. JPMorgan Chase & Co. upped their price target on shares of Varonis Systems from $49.00 to $50.00 and gave the stock a neutral rating in a research report on Tuesday, February 6th. Royal Bank of Canada reissued an outperform rating and set a $56.00 target price on shares of Varonis Systems in a research note on Friday, March 15th. Citigroup raised their price target on shares of Varonis Systems from $35.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday, January 10th. Finally, Truist Financial reiterated a buy rating and set a $55.00 price objective (up from $50.00) on shares of Varonis Systems in a research report on Wednesday, March 13th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Varonis Systems currently has an average rating of Moderate Buy and a consensus target price of $49.06.

Varonis Systems Stock Up 0.9 %

VRNS stock opened at $45.00 on Tuesday. The firm has a fifty day moving average price of $46.85 and a two-hundred day moving average price of $44.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.50 and a quick ratio of 2.50. Varonis Systems has a 1-year low of $22.87 and a 1-year high of $52.88. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of -48.91 and a beta of 0.84.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. The firm had revenue of $154.10 million for the quarter, compared to analysts’ expectations of $151.64 million. Varonis Systems had a negative net margin of 20.22% and a negative return on equity of 20.04%. Research analysts predict that Varonis Systems will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other news, VP Dov Gottlieb sold 43,091 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total value of $2,069,229.82. Following the completion of the sale, the vice president now owns 227,654 shares in the company, valued at $10,931,945.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Varonis Systems news, VP Dov Gottlieb sold 43,091 shares of Varonis Systems stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the completion of the sale, the vice president now owns 227,654 shares of the company’s stock, valued at approximately $10,931,945.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Guy Melamed sold 188,503 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.88, for a total value of $9,402,529.64. Following the sale, the chief financial officer now owns 645,876 shares of the company’s stock, valued at $32,216,294.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 372,419 shares of company stock worth $18,571,413. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Varonis Systems by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 11,251,092 shares of the technology company’s stock valued at $343,608,000 after purchasing an additional 180,082 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 acquiring an additional 100,324 shares during the last quarter. Lisanti Capital Growth LLC bought a new position in shares of Varonis Systems in the 3rd quarter valued at approximately $5,257,000. Lord Abbett & CO. LLC acquired a new stake in Varonis Systems in the 3rd quarter worth approximately $36,317,000. Finally, California Public Employees Retirement System grew its holdings in 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 valued at $6,082,000 after purchasing an additional 20,058 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

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.