Wedbush Reaffirms “Outperform” Rating for Varonis Systems (NASDAQ:VRNS)

Varonis Systems (NASDAQ:VRNS)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a research note issued on Monday, Benzinga reports. They presently have a $67.00 price objective on the technology company’s stock. Wedbush’s price target suggests a potential upside of 16.38% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Truist Financial restated a “buy” rating and set a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Barclays upped their price target on shares of Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Finally, Susquehanna upped their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.33.

Varonis Systems Trading Up 0.5 %

Shares of VRNS traded up $0.30 on Monday, reaching $57.57. 47,240 shares of the company’s stock were exchanged, compared to its average volume of 1,265,664. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $6.42 billion, a P/E ratio of -61.24 and a beta of 0.82. The business has a 50 day moving average price of $49.69 and a two-hundred day moving average price of $47.49. Varonis Systems has a 12 month low of $29.47 and a 12 month high of $57.95.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The firm had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.35) earnings per share. Research analysts anticipate that Varonis Systems will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of Varonis Systems stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00. Following the completion of the sale, the insider now owns 494,114 shares in the company, valued at approximately $25,219,578.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in Varonis Systems by 87.2% in 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 during the period. Fidelis Capital Partners LLC bought a new stake in shares of Varonis Systems during the 1st quarter valued at approximately $63,000. NBC Securities Inc. bought a new stake in shares of Varonis Systems during the 1st quarter valued at approximately $68,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Varonis Systems during the 4th quarter valued at approximately $77,000. Finally, International Assets Investment Management LLC grew 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 purchasing an additional 1,886 shares during the last quarter. 95.65% of the stock is owned by 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.