Varonis Systems (NASDAQ:VRNS) Price Target Increased to $50.00 by Analysts at Robert W. Baird

Varonis Systems (NASDAQ:VRNS) had its target price lifted by investment analysts at Robert W. Baird from $48.00 to $50.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 9.55% from the stock’s previous close.

Several other analysts also recently commented on the stock. Wedbush upgraded shares of Varonis Systems from a “neutral” rating to an “outperform” rating and increased their target price for the company from $35.00 to $65.00 in a report on Tuesday, February 6th. JPMorgan Chase & Co. upped their target price on Varonis Systems from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Wells Fargo & Company increased their price target on Varonis Systems from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. JMP Securities restated a “market outperform” rating and issued a $63.00 price objective on shares of Varonis Systems in a research note on Monday, February 5th. Finally, Citigroup lifted their target price on Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.06.

Varonis Systems Stock Performance

Shares of VRNS opened at $45.64 on Tuesday. Varonis Systems has a 52 week low of $23.09 and a 52 week high of $52.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.50 and a current ratio of 2.50. The stock has a 50 day moving average price of $46.75 and a two-hundred day moving average price of $44.33. The firm has a market capitalization of $5.09 billion, a P/E ratio of -49.61 and a beta of 0.84.

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

Insider Transactions at Varonis Systems

In related news, Director Gili Iohan sold 19,500 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the sale, the director now directly owns 19,263 shares in the company, valued at approximately $973,552.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Gili Iohan sold 19,500 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total transaction of $985,530.00. Following the sale, the director now owns 19,263 shares of the company’s stock, valued at approximately $973,552.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ofer Segev sold 5,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $52.13, for a total transaction of $260,650.00. Following the completion of the sale, the director now owns 75,682 shares in the company, valued at $3,945,302.66. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Varonis Systems by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 11,251,092 shares of the technology company’s stock valued at $343,608,000 after acquiring an additional 180,082 shares during the last quarter. First Trust Advisors LP grew its stake in Varonis Systems by 7.9% in the 4th quarter. First Trust Advisors LP now owns 4,426,593 shares of the technology company’s stock worth $200,436,000 after buying an additional 325,347 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Varonis Systems by 1.9% in the 4th quarter. Clearbridge Investments LLC now owns 3,722,692 shares of the technology company’s stock worth $168,563,000 after buying an additional 70,572 shares during the last quarter. Cadian Capital Management LP raised its position in shares of Varonis Systems by 34.6% during the 3rd quarter. Cadian Capital Management LP now owns 3,574,334 shares of the technology company’s stock valued at $109,160,000 after buying an additional 919,334 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Varonis Systems by 6.7% during the 3rd quarter. William Blair Investment Management LLC now owns 3,252,160 shares of the technology company’s stock worth $99,321,000 after acquiring an additional 205,105 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other 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.