Piper Sandler Forecasts Strong Price Appreciation for Varonis Systems (NASDAQ:VRNS) Stock

Varonis Systems (NASDAQ:VRNS) had its price objective boosted by Piper Sandler from $48.00 to $55.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Wells Fargo & Company boosted their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Barclays raised their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research report on Wednesday. Finally, Wedbush restated an “outperform” rating and issued a $67.00 price objective on shares of Varonis Systems in a report on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.75.

Varonis Systems Stock Performance

VRNS opened at $51.23 on Wednesday. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of -68.31 and a beta of 0.82. The business’s 50-day moving average price is $55.86 and its two-hundred day moving average price is $50.05. Varonis Systems has a 1 year low of $32.26 and a 1 year high of $60.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44.

Insider Buying and Selling at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems 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 completion of the sale, the insider now owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Several institutional investors have recently added to or reduced their stakes in VRNS. Assetmark Inc. lifted its holdings in shares of Varonis Systems by 31.0% during the third quarter. Assetmark Inc. now owns 5,814 shares of the technology company’s stock worth $328,000 after buying an additional 1,375 shares in the last quarter. Olympiad Research LP bought a new position in Varonis Systems during the third quarter worth about $457,000. Principal Financial Group Inc. raised its stake in Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after purchasing an additional 147,081 shares in the last quarter. Hanseatic Management Services Inc. boosted its holdings in Varonis Systems by 4.3% in the 3rd quarter. Hanseatic Management Services Inc. now owns 16,742 shares of the technology company’s stock valued at $946,000 after purchasing an additional 691 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of Varonis Systems by 39.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 26,964 shares of the technology company’s stock worth $1,523,000 after purchasing an additional 7,627 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.

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.