Varonis Systems (NASDAQ:VRNS) PT Raised to $60.00

Varonis Systems (NASDAQ:VRNS) had its price objective upped by equities research analysts at Barclays from $55.00 to $60.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 8.83% from the company’s current price.

A number of other analysts have also recently weighed in on VRNS. Piper Sandler raised their price objective on Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday. Truist Financial reissued a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday. Susquehanna raised their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday. Robert W. Baird raised Varonis Systems from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $52.00 to $60.00 in a research report on Tuesday. Finally, Royal Bank of Canada lifted their price target on Varonis Systems from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Varonis Systems currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Varonis Systems Stock Down 0.8 %

Shares of NASDAQ VRNS opened at $55.13 on Tuesday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $6.15 billion, a PE ratio of -58.65 and a beta of 0.83. The stock’s fifty day simple moving average is $45.91 and its two-hundred day simple moving average is $46.46. Varonis Systems has a 12-month low of $28.15 and a 12-month high of $57.00.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.07. The business had revenue of $130.35 million for the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative return on equity of 18.28% and a negative net margin of 16.97%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.35) EPS. As a group, analysts expect that Varonis Systems will post -0.97 EPS for the current fiscal year.

Insider Activity at Varonis Systems

In related news, CEO Yakov Faitelson sold 284,211 shares of Varonis Systems stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $45.23, for a total value of $12,854,863.53. Following the completion of the transaction, the chief executive officer now owns 1,452,922 shares in the company, valued at approximately $65,715,662.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. EFG Asset Management North America Corp. increased its stake in Varonis Systems by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock worth $2,181,000 after buying an additional 216 shares in the last quarter. Hanseatic Management Services Inc. increased its stake in Varonis Systems by 1.7% during the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock worth $770,000 after buying an additional 275 shares in the last quarter. Natixis Advisors L.P. increased its stake in Varonis Systems by 3.7% during the 4th quarter. Natixis Advisors L.P. now owns 10,441 shares of the technology company’s stock worth $472,000 after buying an additional 370 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after buying an additional 429 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in Varonis Systems by 3.3% during the 2nd quarter. Baillie Gifford & Co. now owns 19,804 shares of the technology company’s stock worth $950,000 after buying an additional 628 shares in the last quarter. Hedge funds and other 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.