Varonis Systems (NASDAQ:VRNS) Price Target Raised to $55.00 at Barclays

Varonis Systems (NASDAQ:VRNS) had its price target increased by Barclays from $53.00 to $55.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 11.22% from the company’s previous close.

VRNS has been the subject of several other reports. Robert W. Baird lifted their target price on shares of Varonis Systems from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. upgraded shares of Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $50.00 to $54.00 in a research note on Friday, June 14th. Royal Bank of Canada lifted their price target on shares of Varonis Systems from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Truist Financial reiterated a “buy” rating and issued a $55.00 price target (up from $50.00) on shares of Varonis Systems in a research note on Wednesday, March 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research note on Monday, May 13th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.44.

Varonis Systems Stock Up 2.7 %

Shares of Varonis Systems stock opened at $49.45 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a market capitalization of $5.51 billion, a PE ratio of -52.61 and a beta of 0.83. Varonis Systems has a 52-week low of $25.97 and a 52-week high of $52.88. The company has a 50-day simple moving average of $44.62 and a two-hundred day simple moving average of $46.04.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, May 6th. The technology company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). The business had revenue of $114.02 million during the quarter, compared to analysts’ expectations of $113.81 million. Varonis Systems had a negative net margin of 20.38% and a negative return on equity of 21.33%. On average, analysts anticipate that Varonis Systems will post -0.98 EPS for the current fiscal year.

Insider Activity at Varonis Systems

In related news, CEO Yakov Faitelson sold 284,211 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the completion of the sale, the chief executive officer now directly owns 1,452,922 shares in the company, valued at $65,715,662.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Varonis Systems

Hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of Varonis Systems by 87.2% in the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after purchasing an additional 429 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Varonis Systems in the first quarter worth approximately $63,000. NBC Securities Inc. bought a new position in shares of Varonis Systems in the first quarter worth approximately $68,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Varonis Systems in the fourth quarter worth approximately $77,000. Finally, International Assets Investment Management LLC boosted its position in shares of Varonis Systems by 1,779.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,886 shares during the period. 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.