Varonis Systems (NASDAQ:VRNS) Price Target Increased to $40.00 by Analysts at Stephens

Varonis Systems (NASDAQ:VRNS) had its price target upped by Stephens from $37.00 to $40.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

VRNS has been the topic of a number of other research reports. TD Cowen upped their price target on shares of Varonis Systems from $35.00 to $37.00 and gave the company an outperform rating in a research note on Tuesday, August 1st. Robert W. Baird increased their target price on shares of Varonis Systems from $30.00 to $32.00 and gave the company a neutral rating in a research note on Tuesday, August 1st. Wedbush increased their target price on shares of Varonis Systems from $28.00 to $32.00 and gave the company a neutral rating in a research note on Tuesday, August 1st. JPMorgan Chase & Co. raised shares of Varonis Systems from an underweight rating to a neutral rating and increased their target price for the company from $27.00 to $35.00 in a research note on Friday, October 27th. Finally, JMP Securities reissued a market outperform rating and issued a $63.00 target price on shares of Varonis Systems in a research note on Wednesday, August 2nd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $35.32.

Varonis Systems Price Performance

Varonis Systems stock opened at $33.64 on Tuesday. The company has a market cap of $3.69 billion, a price-to-earnings ratio of -31.74 and a beta of 0.85. The firm’s fifty day moving average is $31.24 and its 200 day moving average is $28.07. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 0.53. Varonis Systems has a 52-week low of $15.61 and a 52-week high of $34.61.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, July 31st. The technology company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.08). The business had revenue of $115.42 million for the quarter, compared to analysts’ expectations of $119.21 million. Varonis Systems had a negative net margin of 23.83% and a negative return on equity of 22.30%. Sell-side analysts forecast that Varonis Systems will post -0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other Varonis Systems news, EVP David Bass sold 34,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $29.51, for a total transaction of $1,003,340.00. Following the transaction, the executive vice president now directly owns 650,756 shares in the company, valued at approximately $19,203,809.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Avrohom J. Kess purchased 1,250 shares of the stock in a transaction dated Friday, August 4th. The shares were acquired at an average cost of $29.72 per share, for a total transaction of $37,150.00. Following the acquisition, the director now owns 23,032 shares of the company’s stock, valued at $684,511.04. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Bass sold 34,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $29.51, for a total transaction of $1,003,340.00. Following the completion of the sale, the executive vice president now owns 650,756 shares in the company, valued at $19,203,809.56. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Institutional Trading of Varonis Systems

Institutional investors have recently modified their holdings of the company. Dark Forest Capital Management LP bought a new stake in shares of Varonis Systems in the 1st quarter valued at about $26,000. Point72 Hong Kong Ltd bought a new stake in shares of Varonis Systems in the 2nd quarter valued at about $30,000. Pinebridge Investments L.P. purchased a new position in shares of Varonis Systems in the 2nd quarter valued at approximately $33,000. Harbor Investment Advisory LLC raised its position in shares of Varonis Systems by 21.7% in the 2nd quarter. Harbor Investment Advisory LLC now owns 2,161 shares of the technology company’s stock valued at $58,000 after purchasing an additional 385 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of Varonis Systems by 35.9% in the 1st 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 during the last quarter. 92.47% of the stock is currently 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; strategic and product plans; and other intellectual property.