Analysts Set Varonis Systems, Inc. (NASDAQ:VRNS) PT at $56.67

Varonis Systems, Inc. (NASDAQ:VRNS) has received an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $56.67.

Several equities research analysts recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Wells Fargo & Company boosted their price target on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Wedbush restated an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Monday, August 26th. Barclays upped their target price on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Varonis Systems in a research report on Tuesday, July 30th.

Insider Buying and Selling

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of the firm’s 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 transaction, the insider now owns 494,114 shares of the company’s stock, valued at $25,219,578.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. EFG Asset Management North America Corp. grew its position in shares of Varonis Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock worth $2,181,000 after acquiring an additional 216 shares during the last quarter. O Neil Global Advisors Inc. grew its position in Varonis Systems by 4.8% in the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after purchasing an additional 220 shares during the last quarter. Hanseatic Management Services Inc. increased its stake in shares of Varonis Systems by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock valued at $770,000 after purchasing an additional 275 shares during the period. Xponance Inc. raised its holdings in shares of Varonis Systems by 5.6% during the second quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after buying an additional 367 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of Varonis Systems by 3.5% during the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock worth $572,000 after buying an additional 401 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Stock Up 0.3 %

VRNS opened at $59.43 on Friday. Varonis Systems has a 1 year low of $30.89 and a 1 year high of $60.58. The firm has a 50 day moving average price of $55.88 and a 200 day moving average price of $49.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. The company has a market cap of $6.63 billion, a PE ratio of -63.22 and a beta of 0.82.

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

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.