Varonis Systems (NASDAQ:VRNS) PT Raised to $60.00 at Barclays

Varonis Systems (NASDAQ:VRNS) had its price objective lifted by Barclays from $55.00 to $60.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. Truist Financial reissued a buy rating and issued a $60.00 price target (up from $55.00) on shares of Varonis Systems in a research note on Tuesday. Wells Fargo & Company lifted their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an equal weight rating in a research note on Tuesday. Royal Bank of Canada lifted their target price 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. Susquehanna lifted their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a positive rating in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Varonis Systems in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Varonis Systems currently has a consensus rating of Moderate Buy and a consensus price target of $56.33.

Varonis Systems Price Performance

NASDAQ:VRNS opened at $51.80 on Tuesday. The company’s 50-day moving average price is $46.22 and its 200-day moving average price is $46.55. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.38. Varonis Systems has a twelve month low of $29.10 and a twelve month high of $57.00.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. The firm had revenue of $130.35 million for the quarter, compared to the consensus estimate of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the firm posted ($0.35) earnings per share. On average, research analysts expect that Varonis Systems will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other Varonis Systems news, CEO Yakov Faitelson sold 284,211 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $45.23, for a total value of $12,854,863.53. Following the sale, the chief executive officer now directly owns 1,452,922 shares of the company’s stock, valued at approximately $65,715,662.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Varonis Systems

A number of large investors have recently modified their holdings of VRNS. Quadrant Capital Group LLC increased its position in shares of Varonis Systems by 87.2% in the 4th 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 during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Varonis Systems in the 1st quarter valued at $63,000. NBC Securities Inc. purchased a new position in shares of Varonis Systems in the 1st quarter valued at $68,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Varonis Systems in the 4th quarter valued at $77,000. Finally, International Assets Investment Management LLC grew its position in shares of Varonis Systems by 1,779.2% in the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after buying an additional 1,886 shares during the last quarter. 95.65% of the stock is owned by hedge funds and other 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.