Piper Sandler Boosts Varonis Systems (NASDAQ:VRNS) Price Target to $48.00

Varonis Systems (NASDAQ:VRNS) had its price target lifted by Piper Sandler from $45.00 to $48.00 in a report published on Tuesday, Benzinga reports. Piper Sandler currently has a neutral rating on the technology company’s stock.

VRNS has been the subject of a number of other reports. Susquehanna raised their price target on Varonis Systems from $55.00 to $65.00 and gave the stock a positive rating in a research report on Tuesday. Royal Bank of Canada increased their target price on Varonis Systems from $56.00 to $58.00 and gave the stock an outperform rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. upgraded Varonis Systems from a neutral rating to an overweight rating and increased their target price for the stock from $50.00 to $54.00 in a research note on Friday, June 14th. Needham & Company LLC reiterated a hold rating on shares of Varonis Systems in a research note on Monday, May 13th. Finally, Barclays increased their target price on Varonis Systems from $53.00 to $55.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $56.33.

Varonis Systems Stock Down 2.6 %

Shares of VRNS opened at $51.80 on Tuesday. The company has a market cap of $5.78 billion, a PE ratio of -55.11 and a beta of 0.82. The business has a fifty day moving average of $46.22 and a 200 day moving average of $46.55. Varonis Systems has a 52-week low of $29.10 and a 52-week high of $57.00. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. The company had revenue of $130.35 million during the quarter, compared to the consensus estimate of $124.83 million. Varonis Systems had a negative return on equity of 18.28% and a negative net margin of 16.97%. Varonis Systems’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the company earned ($0.35) earnings per share. On average, sell-side analysts expect that Varonis Systems will post -0.95 EPS for the current year.

Insider Activity

In other news, CEO Yakov Faitelson sold 284,211 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the transaction, the chief executive officer now owns 1,452,922 shares in the company, valued at $65,715,662.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. EFG Asset Management North America Corp. boosted its position in Varonis Systems by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock valued at $2,181,000 after purchasing an additional 216 shares in the last quarter. Hanseatic Management Services Inc. boosted its position in Varonis Systems by 1.7% during the second quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock valued at $770,000 after purchasing an additional 275 shares in the last quarter. Natixis Advisors L.P. boosted its position in Varonis Systems by 3.7% during the fourth quarter. Natixis Advisors L.P. now owns 10,441 shares of the technology company’s stock valued at $472,000 after purchasing an additional 370 shares in the last quarter. Natixis Advisors LLC boosted its position 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 purchasing an additional 401 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Varonis Systems by 87.2% during the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

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.