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

Varonis Systems (NASDAQ:VRNS) had its target price reduced by Piper Sandler from $55.00 to $50.00 in a research note released on Monday morning,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other analysts have also issued reports about the stock. Robert W. Baird upped their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. DA Davidson dropped their target price on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Jefferies Financial Group decreased their price target on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and issued a $67.00 price objective on shares of Varonis Systems in a research report on Monday. Finally, UBS Group raised their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.35.

Varonis Systems Price Performance

Shares of Varonis Systems stock opened at $45.13 on Monday. The firm has a market capitalization of $5.08 billion, a PE ratio of -60.17 and a beta of 0.83. 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 12 month low of $41.13 and a 12 month high of $60.58. The business’s 50-day moving average price is $48.98 and its 200-day moving average price is $51.69.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the business earned ($0.22) earnings per share. Sell-side analysts forecast that Varonis Systems will post -0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Vice Chairman James O’boyle sold 50,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the sale, the insider now directly owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

Hedge funds have recently bought and sold shares of the business. O Neil Global Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 220 shares during the last quarter. Virtue Capital Management LLC raised its stake in Varonis Systems by 2.3% during the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after buying an additional 364 shares during the last quarter. Xponance Inc. raised its stake in Varonis Systems by 5.6% during the second quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after buying an additional 367 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Varonis Systems by 3.5% in the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock worth $572,000 after acquiring an additional 401 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after acquiring an additional 423 shares during 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.