Varonis Systems (NASDAQ:VRNS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Varonis Systems (NASDAQ:VRNS) had its price objective raised by JPMorgan Chase & Co. from $59.00 to $65.00 in a research note published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

A number of other research firms have also commented on VRNS. Wells Fargo & Company upped their price target on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. UBS Group upped their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Monday, August 26th. Susquehanna boosted their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, July 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.75.

Varonis Systems Trading Down 10.7 %

VRNS opened at $52.48 on Monday. The company’s 50 day moving average price is $56.19 and its two-hundred day moving average price is $49.97. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of -55.83 and a beta of 0.82. Varonis Systems has a fifty-two week low of $31.56 and a fifty-two week 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 Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. The company had revenue of $130.35 million for 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%. Varonis Systems’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. As a group, research analysts predict that Varonis Systems will post -0.83 earnings per share for the current year.

Insider Buying and Selling at Varonis Systems

In related news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total value of $3,828,000.00. Following the sale, the insider now directly owns 494,114 shares in the company, valued at approximately $25,219,578.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Several large investors have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Varonis Systems in the first quarter worth $63,000. International Assets Investment Management LLC boosted its holdings in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,442 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Varonis Systems during the 2nd quarter valued at about $215,000. Finally, O Neil Global Advisors Inc. grew its stake in Varonis Systems by 4.8% during the second 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. Hedge funds and other 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.