Barclays Increases Varonis Systems (NASDAQ:VRNS) Price Target to $65.00

Varonis Systems (NASDAQ:VRNS - Free Report) had its target price hoisted by Barclays from $60.00 to $65.00 in a research report report published on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company's stock.

VRNS has been the topic of several other reports. Needham & Company LLC reaffirmed a hold rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Susquehanna upped their price target on Varonis Systems from $55.00 to $65.00 and gave the company a positive rating in a report on Tuesday, July 30th. Robert W. Baird raised Varonis Systems from a neutral rating to an outperform rating and boosted their target price for the stock from $52.00 to $60.00 in a research report on Tuesday, July 30th. TD Cowen lifted their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a buy rating in a research note on Tuesday, July 30th. Finally, Truist Financial restated a buy rating and set a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. Six 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $56.67.

Varonis Systems Stock Down 1.7 %

VRNS stock traded down $0.96 on Monday, reaching $55.52. 891,691 shares of the company traded hands, compared to its average volume of 1,287,462. The firm has a fifty day simple moving average of $54.81 and a 200-day simple moving average of $48.66. The company has a market cap of $6.19 billion, a P/E ratio of -59.06 and a beta of 0.82. Varonis Systems has a one year low of $29.75 and a one year high of $58.32. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44.

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

Insiders Place Their Bets

In related news, Vice Chairman James O'boyle sold 75,000 shares of Varonis Systems stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the transaction, the insider now owns 494,114 shares in the company, valued at approximately $25,219,578.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VRNS. Fidelis Capital Partners LLC bought a new stake in shares of Varonis Systems during the first quarter valued at approximately $63,000. NBC Securities Inc. purchased a new stake in Varonis Systems in the 1st quarter worth $68,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Varonis Systems during the 2nd quarter valued at about $215,000. O Neil Global Advisors Inc. grew its position in shares of Varonis Systems by 4.8% during the second 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 in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Varonis Systems in the fourth quarter worth about $232,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

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.