Varonis Systems (NASDAQ:VRNS) Given New $50.00 Price Target at Piper Sandler

Varonis Systems (NASDAQ:VRNS) had its price target lowered by stock analysts at Piper Sandler from $55.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s target price suggests a potential upside of 11.01% from the company’s current price.

VRNS has been the subject of several other research reports. UBS Group increased their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. Jefferies Financial Group reduced their price target on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research report on Monday. Five research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.35.

Varonis Systems Stock Up 1.0 %

VRNS stock traded up $0.46 during midday trading on Monday, reaching $45.04. The company had a trading volume of 253,676 shares, compared to its average volume of 745,680. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems has a 1 year low of $41.13 and a 1 year high of $60.58. The company has a 50 day moving average of $49.23 and a two-hundred day moving average of $51.62. The company has a market capitalization of $5.07 billion, a P/E ratio of -60.05 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company had revenue of $148.07 million during the quarter, compared to analysts’ expectations of $141.62 million. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, equities research analysts expect that Varonis Systems will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now owns 504,598 shares of the company’s stock, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRNS. Farther Finance Advisors LLC boosted its stake in shares of 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 purchasing an additional 423 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of 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 during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Varonis Systems during the 3rd quarter worth $184,000. KBC Group NV grew its position in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after acquiring an additional 663 shares during the last quarter. Finally, Atom Investors LP acquired a new position in Varonis Systems in the 3rd quarter worth about $224,000. 95.65% of the stock is currently 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.