Investment Analysts’ Weekly Ratings Updates for Varonis Systems (VRNS)

Several analysts have recently updated their ratings and price targets for Varonis Systems (NASDAQ: VRNS):

• 10/30/2024 – Varonis Systems had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $65.00 price target on the stock.
• 10/30/2024 – Varonis Systems had its price target raised by analysts at Piper Sandler from $48.00 to $55.00. They now have a “neutral” rating on the stock.
• 10/28/2024 – Varonis Systems had its price target raised by analysts at JPMorgan Chase & Co. from $59.00 to $65.00. They now have an “overweight” rating on the stock.
• 10/23/2024 – Varonis Systems had its price target raised by analysts at Robert W. Baird from $60.00 to $62.00. They now have an “outperform” rating on the stock.
• 10/23/2024 – Varonis Systems had its price target raised by analysts at UBS Group AG from $63.00 to $70.00. They now have a “buy” rating on the stock.
• 10/7/2024 – Varonis Systems had its price target raised by analysts at Barclays PLC from $60.00 to $65.00. They now have an “overweight” rating on the stock.

Varonis Systems Stock Down 4.0 %

NASDAQ:VRNS opened at $50.37 on Friday. The company’s 50 day moving average is $56.10 and its two-hundred day moving average is $49.99. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. The company has a market cap of $5.62 billion, a PE ratio of -53.59 and a beta of 0.82. Varonis Systems, Inc. has a twelve month low of $31.56 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued 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. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The firm had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. During the same period in the previous year, the business earned ($0.35) earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts anticipate that Varonis Systems, Inc. will post -0.83 EPS for the current year.

Insider Transactions at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the transaction, the insider now owns 494,114 shares of the company’s stock, valued at approximately $25,219,578.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. EFG Asset Management North America Corp. grew its holdings in Varonis Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock valued at $2,181,000 after buying an additional 216 shares during the period. O Neil Global Advisors Inc. grew its stake 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 acquiring an additional 220 shares in the last quarter. Hanseatic Management Services Inc. increased its holdings in Varonis Systems by 1.7% during the 2nd quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock worth $770,000 after purchasing an additional 275 shares during the last quarter. Xponance Inc. raised its holdings in Varonis Systems by 5.6% in the second quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after acquiring an additional 367 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Varonis Systems by 3.5% during the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock worth $572,000 after purchasing an additional 401 shares during the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

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.