Varonis Systems (NASDAQ:VRNS) Price Target Cut to $50.00 by Analysts at Piper Sandler

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

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. DA Davidson cut their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Needham & Company LLC reiterated a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Monday. Barclays raised their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group reduced their price objective on Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.35.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $45.13 on Monday. The firm has a market cap of $5.08 billion, a P/E ratio of -60.17 and a beta of 0.83. Varonis Systems has a twelve month low of $41.13 and a twelve month high of $60.58. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The company has a 50 day moving average of $48.98 and a 200 day moving average of $51.69.

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

Insider Buying and Selling at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the sale, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. O Neil Global Advisors Inc. boosted its holdings in shares of Varonis Systems by 4.8% during the 2nd 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 increased its holdings in shares of Varonis Systems by 2.3% in the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after purchasing an additional 364 shares during the last quarter. Xponance Inc. lifted its position in shares of Varonis Systems by 5.6% in the second quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock worth $335,000 after buying an additional 367 shares in the last quarter. Natixis Advisors LLC boosted its stake in Varonis Systems by 3.5% during the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after buying an additional 401 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in 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. 95.65% of the stock is currently owned by institutional investors.

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.