Varonis Systems (NASDAQ:VRNS) Given New $50.00 Price Target at Robert W. Baird

Varonis Systems (NASDAQ:VRNS) had its target price upped by Robert W. Baird from $48.00 to $50.00 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on VRNS. JPMorgan Chase & Co. increased their price target on Varonis Systems from $49.00 to $50.00 and gave the stock a neutral rating in a research report on Tuesday, February 6th. Piper Sandler upped their price objective on shares of Varonis Systems from $40.00 to $45.00 and gave the stock a neutral rating in a research report on Tuesday, February 6th. Wells Fargo & Company raised their target price on Varonis Systems from $42.00 to $45.00 and gave the company an equal weight rating in a research report on Tuesday, February 6th. Citigroup increased their price target on Varonis Systems from $35.00 to $45.00 and gave the stock a neutral rating in a research report on Wednesday, January 10th. Finally, JMP Securities restated a market outperform rating and issued a $63.00 price objective on shares of Varonis Systems in a research report on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Varonis Systems currently has an average rating of Moderate Buy and a consensus price target of $49.06.

Varonis Systems Stock Performance

Shares of VRNS stock opened at $45.00 on Tuesday. The business has a fifty day moving average of $46.85 and a 200 day moving average of $44.32. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of -48.91 and a beta of 0.84. Varonis Systems has a 1 year low of $22.87 and a 1 year high of $52.88.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.08. The business had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $151.64 million. Varonis Systems had a negative net margin of 20.22% and a negative return on equity of 20.04%. As a group, research analysts expect that Varonis Systems will post -0.96 earnings per share for the current year.

Insider Transactions at Varonis Systems

In other news, VP Dov Gottlieb sold 43,091 shares of Varonis Systems stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the transaction, the vice president now owns 227,654 shares in the company, valued at approximately $10,931,945.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Ofer Segev sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $52.13, for a total transaction of $260,650.00. Following the completion of the sale, the director now directly owns 75,682 shares of the company’s stock, valued at approximately $3,945,302.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dov Gottlieb sold 43,091 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the transaction, the vice president now directly owns 227,654 shares of the company’s stock, valued at approximately $10,931,945.08. The disclosure for this sale can be found here. Insiders have sold a total of 372,419 shares of company stock worth $18,571,413 in the last ninety days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Hedge funds have recently made changes to their positions in the stock. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in Varonis Systems during the first quarter worth about $19,194,000. Inspire Advisors LLC purchased a new position in Varonis Systems in the first quarter valued at $716,000. Sei Investments Co. increased its holdings in Varonis Systems by 1.7% during the 1st quarter. Sei Investments Co. now owns 167,745 shares of the technology company’s stock worth $7,912,000 after purchasing an additional 2,844 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of Varonis Systems in the 1st quarter valued at about $714,000. Finally, SG Americas Securities LLC raised its holdings in Varonis Systems by 1,279.8% in the first quarter. SG Americas Securities LLC now owns 77,049 shares of the technology company’s stock valued at $3,634,000 after acquiring an additional 71,465 shares in the last quarter. Hedge funds and other 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.