UBS Group Increases Varonis Systems (NASDAQ:VRNS) Price Target to $65.00

Varonis Systems (NASDAQ:VRNS) had its price objective upped by stock analysts at UBS Group from $60.00 to $65.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. UBS Group’s price objective suggests a potential upside of 16.42% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Wedbush upped their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on Varonis Systems from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Robert W. Baird upped their target price on Varonis Systems from $58.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on Varonis Systems from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, July 21st. Finally, Jefferies Financial Group upgraded Varonis Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $50.00 to $65.00 in a research note on Thursday, July 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Varonis Systems presently has a consensus rating of “Moderate Buy” and an average target price of $57.31.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $55.83 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.15 and a current ratio of 1.15. Varonis Systems has a 52-week low of $36.53 and a 52-week high of $60.58. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of -60.68 and a beta of 0.76. The business’s fifty day moving average is $50.60 and its 200 day moving average is $45.45.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Varonis Systems

Institutional investors have recently bought and sold shares of the stock. Brown Advisory Inc. purchased a new stake in Varonis Systems during the 1st quarter valued at about $346,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Varonis Systems by 18.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,465 shares of the technology company’s stock worth $352,000 after buying an additional 1,323 shares during the period. Stephens Investment Management Group LLC lifted its holdings in Varonis Systems by 14.7% in the 1st quarter. Stephens Investment Management Group LLC now owns 1,604,558 shares of the technology company’s stock worth $64,904,000 after buying an additional 205,781 shares during the period. Penserra Capital Management LLC lifted its holdings in Varonis Systems by 52.2% in the 1st quarter. Penserra Capital Management LLC now owns 1,542,071 shares of the technology company’s stock worth $62,376,000 after buying an additional 529,182 shares during the period. Finally, Legacy Advisors LLC lifted its holdings in Varonis Systems by 164.5% in the 1st quarter. Legacy Advisors LLC now owns 21,090 shares of the technology company’s stock worth $853,000 after buying an additional 13,115 shares during the period. 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.