Barclays Forecasts Strong Price Appreciation for Varonis Systems (NASDAQ:VRNS) Stock

Varonis Systems (NASDAQ:VRNS) had its target price hoisted by Barclays from $60.00 to $62.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective points to a potential upside of 11.05% from the stock’s previous close.

VRNS has been the subject of a number of other research reports. DA Davidson boosted their price objective on shares of Varonis Systems from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and raised their price target for the company from $50.00 to $65.00 in a report on Thursday, July 24th. Royal Bank Of Canada boosted their price objective on shares of Varonis Systems from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley lowered their target price on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company lifted their price target on shares of Varonis Systems from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.31.

Varonis Systems Price Performance

NASDAQ:VRNS opened at $55.83 on Wednesday. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of -60.68 and a beta of 0.76. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.15 and a quick ratio of 1.15. The business has a 50 day simple moving average of $50.60 and a 200-day simple moving average of $45.45. Varonis Systems has a 1 year low of $36.53 and a 1 year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $152.16 million during the quarter, compared to analysts’ expectations of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 22.01%. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. Equities analysts forecast that Varonis Systems will post -0.83 EPS for the current year.

Insider Transactions at Varonis Systems

In related news, Director Den Bosch Fred Van sold 6,000 shares of the firm’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 transaction, the director directly owned 131,666 shares of the company’s stock, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRNS. Norges Bank purchased a new position in Varonis Systems in the 4th quarter worth approximately $56,561,000. New Age Alpha Advisors LLC acquired a new stake in shares of Varonis Systems in the fourth quarter valued at approximately $70,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Varonis Systems by 28.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 369,317 shares of the technology company’s stock valued at $16,409,000 after purchasing an additional 81,343 shares during the last quarter. Alliancebernstein L.P. lifted its position in Varonis Systems by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 138,977 shares of the technology company’s stock worth $6,175,000 after buying an additional 1,381 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its stake in Varonis Systems by 43.7% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 47,609 shares of the technology company’s stock worth $2,115,000 after buying an additional 14,471 shares during 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.