Robert W. Baird Forecasts Strong Price Appreciation for Varonis Systems (NASDAQ:VRNS) Stock

Varonis Systems (NASDAQ:VRNS) had its price target raised by analysts at Robert W. Baird from $58.00 to $63.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price objective points to a potential upside of 12.84% from the company’s current price.

VRNS has been the topic of several other reports. Royal Bank Of Canada raised their price target on Varonis Systems from $58.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday. Needham & Company LLC increased their target price on Varonis Systems from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their target price on Varonis Systems from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Jefferies Financial Group upgraded Varonis Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $65.00 in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Varonis Systems from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.31.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS opened at $55.83 on Wednesday. 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 1-year low of $36.53 and a 1-year high of $60.58. The stock has a market capitalization of $6.25 billion, a P/E ratio of -60.68 and a beta of 0.76. The business has a 50-day moving average price of $50.60 and a two-hundred day moving average price of $45.45.

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

Insider Activity

In related news, Director Den Bosch Fred Van sold 6,000 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the sale, the director directly owned 131,666 shares of the company’s stock, valued at approximately $6,583,300. The trade was a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Varonis Systems

Large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Varonis Systems in the fourth quarter valued at about $36,000. Johnson Financial Group Inc. bought a new position in shares of Varonis Systems during the fourth quarter worth about $61,000. Transce3nd LLC acquired a new stake in Varonis Systems in the 4th quarter valued at approximately $62,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Varonis Systems in the 1st quarter valued at approximately $69,000. Finally, New Age Alpha Advisors LLC acquired a new position in Varonis Systems during the 4th quarter worth approximately $70,000. 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.