Varonis Systems’ (VRNS) “Outperform” Rating Reiterated at Royal Bank of Canada

Varonis Systems (NASDAQ:VRNS)‘s stock had its “outperform” rating reiterated by equities research analysts at Royal Bank of Canada in a report released on Wednesday, Benzinga reports. They currently have a $65.00 price target on the technology company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 29.05% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Susquehanna lifted their target price on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. Barclays lifted their target price on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Wedbush reiterated an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. JPMorgan Chase & Co. lifted their target price on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday. Finally, Baird R W upgraded Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Varonis Systems currently has a consensus rating of “Moderate Buy” and an average target price of $58.75.

Varonis Systems Trading Down 4.0 %

VRNS opened at $50.37 on Wednesday. Varonis Systems has a 52 week low of $31.56 and a 52 week high of $60.58. The business has a fifty day simple moving average of $56.10 and a 200-day simple moving average of $49.99. The firm has a market cap of $5.62 billion, a P/E ratio of -53.59 and a beta of 0.82. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last released 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 business had revenue of $130.35 million during the quarter, compared to analyst estimates of $124.83 million. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the business posted ($0.35) earnings per share. On average, equities analysts expect that Varonis Systems will post -0.83 earnings per share for the current year.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the sale, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 made changes to their positions in the company. EFG Asset Management North America Corp. increased 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 purchasing an additional 216 shares in the last quarter. O Neil Global Advisors Inc. increased 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 during the period. Hanseatic Management Services Inc. increased its position in Varonis Systems by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock valued at $770,000 after acquiring an additional 275 shares during the period. Xponance Inc. increased its position in Varonis Systems by 5.6% in the 2nd quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after acquiring an additional 367 shares during the period. Finally, Natixis Advisors LLC increased its position in Varonis Systems by 3.5% in the 2nd quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after acquiring an additional 401 shares during the period. Institutional investors and hedge funds 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.