Varonis Systems (NASDAQ:VRNS) Price Target Raised to $58.00 at Royal Bank of Canada

Varonis Systems (NASDAQ:VRNS) had its target price increased by Royal Bank of Canada from $56.00 to $58.00 in a report published on Tuesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

VRNS has been the subject of a number of other research reports. Stephens restated an overweight rating and issued a $55.00 target price on shares of Varonis Systems in a report on Tuesday, February 6th. Citigroup raised their price objective on Varonis Systems from $35.00 to $45.00 and gave the stock a neutral rating in a research report on Wednesday, January 10th. JMP Securities reaffirmed a market outperform rating and set a $63.00 target price on shares of Varonis Systems in a research note on Monday, February 5th. Wells Fargo & Company increased their price target on shares of Varonis Systems from $42.00 to $45.00 and gave the stock an equal weight rating in a research report on Tuesday, February 6th. Finally, Robert W. Baird boosted their price objective on shares of Varonis Systems from $48.00 to $50.00 and gave the company a neutral rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Varonis Systems currently has an average rating of Moderate Buy and an average target price of $49.06.

Varonis Systems Price Performance

VRNS stock opened at $45.19 on Tuesday. Varonis Systems has a one year low of $23.09 and a one year high of $52.88. The firm has a 50-day moving average of $46.64 and a two-hundred day moving average of $44.34. The firm has a market capitalization of $5.04 billion, a PE ratio of -48.07 and a beta of 0.84. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.51.

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

Insiders Place Their Bets

In related news, Director Gili Iohan sold 19,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the completion of the sale, the director now owns 19,263 shares in the company, valued at $973,552.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its stake in shares of Varonis Systems by 4.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 8,502 shares of the technology company’s stock valued at $260,000 after buying an additional 356 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Varonis Systems by 3.7% during the fourth quarter. Natixis Advisors L.P. now owns 10,441 shares of the technology company’s stock worth $472,000 after purchasing an additional 370 shares during the period. Quadrant Capital Group LLC boosted its holdings in Varonis Systems by 87.2% during the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after purchasing an additional 429 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Varonis Systems by 3.3% in the 3rd quarter. Arizona State Retirement System now owns 31,238 shares of the technology company’s stock valued at $954,000 after purchasing an additional 1,011 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Varonis Systems by 8.7% in the 3rd quarter. Blair William & Co. IL now owns 12,770 shares of the technology company’s stock valued at $390,000 after purchasing an additional 1,022 shares during the period. 95.65% of the stock is owned by institutional investors.

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.