Varonis Systems (NASDAQ:VRNS) Price Target Raised to $55.00 at JPMorgan Chase & Co.

Varonis Systems (NASDAQ:VRNS) had its price target hoisted by JPMorgan Chase & Co. from $39.00 to $55.00 in a research report report published on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other equities research analysts have also recently issued reports on VRNS. B. Riley Financial upped their target price on Varonis Systems from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday. Barclays lifted their price target on shares of Varonis Systems from $33.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. DA Davidson boosted their price objective on shares of Varonis Systems from $30.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 price objective (up from $35.00) on shares of Varonis Systems in a report on Friday. Finally, Susquehanna raised their target price on shares of Varonis Systems from $30.00 to $36.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.26.

Varonis Systems Stock Performance

VRNS opened at $46.67 on Monday. The company has a market cap of $5.36 billion, a PE ratio of -40.94 and a beta of 0.83. The stock has a 50-day moving average of $38.34 and a 200-day moving average of $30.50. Varonis Systems has a 52-week low of $19.70 and a 52-week high of $63.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.69 and a current ratio of 1.69.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, April 28th. The technology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. Varonis Systems had a negative return on equity of 20.27% and a negative net margin of 19.75%.The business had revenue of $173.13 million for the quarter, compared to analyst estimates of $165.52 million. The company’s quarterly revenue was up 26.9% on a year-over-year basis. As a group, equities research analysts forecast that Varonis Systems will post -1.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in VRNS. Allworth Financial LP boosted its position in shares of Varonis Systems by 201.3% in the third quarter. Allworth Financial LP now owns 693 shares of the technology company’s stock valued at $40,000 after acquiring an additional 463 shares during the period. Signaturefd LLC increased its position in Varonis Systems by 47.8% during the fourth quarter. Signaturefd LLC now owns 995 shares of the technology company’s stock worth $33,000 after acquiring an additional 322 shares during the period. Empowered Funds LLC acquired a new position in Varonis Systems during the 4th quarter valued at $37,000. Harvest Fund Management Co. Ltd acquired a new position in Varonis Systems during the 3rd quarter valued at $68,000. Finally, EverSource Wealth Advisors LLC raised its stake in Varonis Systems by 344.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,213 shares of the technology company’s stock valued at $62,000 after purchasing an additional 940 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

About Varonis Systems

Varonis Systems is a cybersecurity firm specializing in the protection and management of unstructured data. The company’s flagship Data Security Platform provides advanced analytics for monitoring file systems, email servers, collaboration platforms and cloud storage. By continuously mapping and analyzing data permissions and user behavior, Varonis enables organizations to detect insider threats, verify compliance and remediate exposed data in real time.

Founded in 2005 and headquartered in New York City, Varonis serves a diverse global customer base across financial services, healthcare, media, manufacturing and government.