Piper Sandler Raises Varonis Systems (NASDAQ:VRNS) Price Target to $48.00

Varonis Systems (NASDAQ:VRNS) had its price objective lifted by Piper Sandler from $45.00 to $48.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other research analysts also recently commented on the stock. Susquehanna lifted their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a positive rating in a research note on Tuesday. JPMorgan Chase & Co. raised shares of Varonis Systems from a neutral rating to an overweight rating and lifted their price target for the stock from $50.00 to $54.00 in a research note on Friday, June 14th. Barclays lifted their price target on shares of Varonis Systems from $53.00 to $55.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Needham & Company LLC reaffirmed a hold rating on shares of Varonis Systems in a research note on Monday, May 13th. Finally, Robert W. Baird raised shares of Varonis Systems from a neutral rating to an outperform rating and lifted their target price for the stock from $52.00 to $60.00 in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Varonis Systems currently has an average rating of Moderate Buy and an average price target of $56.33.

Varonis Systems Trading Down 2.6 %

Shares of Varonis Systems stock opened at $51.80 on Tuesday. Varonis Systems has a 1 year low of $29.10 and a 1 year high of $57.00. The firm has a market cap of $5.78 billion, a PE ratio of -55.11 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.38 and a quick ratio of 2.38. The company has a 50 day simple moving average of $46.22 and a two-hundred day simple moving average of $46.55.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07. The firm had revenue of $130.35 million for the quarter, compared to the consensus estimate of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.28%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) earnings per share. Analysts expect that Varonis Systems will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, CEO Yakov Faitelson sold 284,211 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the transaction, the chief executive officer now directly owns 1,452,922 shares of the company’s stock, valued at approximately $65,715,662.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

A number of hedge funds have recently modified their holdings of VRNS. Quadrant Capital Group LLC boosted its holdings in shares of Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after buying an additional 429 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Varonis Systems during the 1st quarter valued at $63,000. NBC Securities Inc. bought a new stake in shares of Varonis Systems during the 1st quarter valued at $68,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Varonis Systems during the 4th quarter valued at $77,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Varonis Systems by 1,779.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after buying an additional 1,886 shares in the last quarter. 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.