Varonis Systems (NASDAQ:VRNS) Price Target Raised to $58.00

Varonis Systems (NASDAQ:VRNS) had its price objective lifted by Robert W. Baird from $55.00 to $58.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities analysts have also commented on VRNS. Royal Bank Of Canada increased their price target on Varonis Systems from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Wells Fargo & Company increased their price objective on shares of Varonis Systems from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. reduced their target price on shares of Varonis Systems from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Barclays increased their price target on shares of Varonis Systems from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Finally, Wolfe Research raised Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Friday, March 28th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.67.

Varonis Systems Stock Up 2.5%

Shares of VRNS opened at $54.69 on Thursday. The business’s 50 day moving average is $49.88 and its 200 day moving average is $45.15. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.23. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58. The company has a market capitalization of $6.12 billion, a PE ratio of -67.52 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The company had revenue of $136.42 million during the quarter, compared to analysts’ expectations of $133.10 million. Varonis Systems had a negative return on equity of 20.01% and a negative net margin of 15.88%. Varonis Systems’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. Research analysts expect that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Den Bosch Fred Van sold 6,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the director directly owned 131,666 shares of the company’s stock, valued at $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its position in Varonis Systems by 319.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 971,544 shares of the technology company’s stock valued at $48,606,000 after acquiring an additional 740,114 shares in the last quarter. CWM LLC grew its stake in Varonis Systems by 46.8% in the second quarter. CWM LLC now owns 18,747 shares of the technology company’s stock valued at $951,000 after purchasing an additional 5,974 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Varonis Systems by 5.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,049 shares of the technology company’s stock worth $408,000 after purchasing an additional 393 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of Varonis Systems by 6.5% during the second quarter. KLP Kapitalforvaltning AS now owns 23,000 shares of the technology company’s stock valued at $1,167,000 after buying an additional 1,400 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Varonis Systems by 48.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,562 shares of the technology company’s stock valued at $638,000 after buying an additional 4,097 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

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.