Varonis Systems (NASDAQ:VRNS) Sets New 1-Year High - What's Next?

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $58.33 and last traded at $58.09, with a volume of 360569 shares. The stock had previously closed at $56.55.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial reissued a "buy" rating and issued a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Susquehanna lifted their price target on Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research report on Tuesday, July 30th. Wells Fargo & Company lifted their target price on Varonis Systems from $45.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 30th. Barclays lifted their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Baird R W upgraded Varonis Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 30th. Six 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.67.

Varonis Systems Stock Up 3.7 %

The business has a 50-day simple moving average of $54.83 and a two-hundred day simple moving average of $48.72. The company has a market cap of $6.54 billion, a price-to-earnings ratio of -62.36 and a beta of 0.82. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.07. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The company had revenue of $130.35 million during the quarter, compared to analysts' expectations of $124.83 million. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. The business's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities analysts forecast that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O'boyle sold 75,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the transaction, the insider now directly owns 494,114 shares in the company, valued at $25,219,578.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Varonis Systems

Large investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in shares of Varonis Systems in the 1st quarter worth approximately $63,000. NBC Securities Inc. acquired a new position in shares of Varonis Systems in the 1st quarter worth approximately $68,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Varonis Systems in the 2nd quarter worth approximately $215,000. O Neil Global Advisors Inc. boosted its holdings in shares of Varonis Systems by 4.8% in the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company's stock worth $229,000 after acquiring an additional 220 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Varonis Systems in the 4th quarter worth approximately $232,000. 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.