Piper Sandler Issues Positive Forecast for Varonis Systems (NASDAQ:VRNS) Stock Price

Varonis Systems (NASDAQ:VRNS) had its price objective raised by Piper Sandler from $48.00 to $55.00 in a research note published on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the technology company’s stock.

A number of other research analysts have also issued reports on VRNS. Barclays raised their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. TD Cowen raised their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company raised their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Susquehanna raised their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.75.

Varonis Systems Stock Up 1.7 %

Shares of NASDAQ VRNS opened at $51.23 on Wednesday. The company has a 50 day simple moving average of $55.86 and a 200 day simple moving average of $50.10. The firm has a market cap of $5.75 billion, a PE ratio of -68.31 and a beta of 0.83. Varonis Systems has a 1 year low of $32.26 and a 1 year high of $60.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.22%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.22) EPS. On average, research analysts forecast that Varonis Systems will post -0.83 EPS for the current year.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the sale, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its position in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after acquiring an additional 423 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Varonis Systems in the 1st quarter valued at about $63,000. International Assets Investment Management LLC lifted its position in Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after acquiring an additional 2,442 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Varonis Systems in the 2nd quarter valued at about $215,000. Finally, O Neil Global Advisors Inc. lifted 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 valued at $229,000 after acquiring an additional 220 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.