Piper Sandler Raises Varonis Systems (NASDAQ:VRNS) Price Target to $55.00

Varonis Systems (NASDAQ:VRNS) had its price target hoisted by equities research analysts at Piper Sandler from $48.00 to $55.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s price target indicates a potential upside of 9.19% from the stock’s current price.

Several other research analysts have also weighed in on VRNS. Susquehanna increased their target price on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, July 30th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group raised their price objective on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price objective 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. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Varonis Systems has a consensus rating of “Moderate Buy” and an average price target of $58.75.

Varonis Systems Trading Down 4.0 %

Shares of Varonis Systems stock opened at $50.37 on Wednesday. Varonis Systems has a fifty-two week low of $31.56 and a fifty-two week high of $60.58. The firm has a market cap of $5.62 billion, a PE ratio of -53.59 and a beta of 0.82. The business’s fifty day moving average is $56.10 and its two-hundred day moving average is $49.99. 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 issued its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The company had revenue of $130.35 million for 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 business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.35) EPS. Analysts anticipate that Varonis Systems will post -0.83 earnings per share for the current year.

Insider Activity

In related news, Vice Chairman James O’boyle sold 75,000 shares of Varonis Systems 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 completion of the transaction, the insider now directly owns 494,114 shares in the company, valued at approximately $25,219,578.56. This trade represents 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 Investors Weigh In On Varonis Systems

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its holdings in shares of Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after buying an additional 423 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Varonis Systems during the first quarter valued at approximately $63,000. International Assets Investment Management LLC raised its holdings in shares of Varonis Systems by 5,550.0% during the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after buying an additional 2,442 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems during the second quarter valued at approximately $215,000. Finally, O Neil Global Advisors Inc. raised its holdings 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 worth $229,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

About Varonis Systems

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.