Varonis Systems (NASDAQ:VRNS) PT Raised to $70.00

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its price target upped by analysts at UBS Group from $63.00 to $70.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. UBS Group's price target points to a potential upside of 23.72% from the stock's previous close.

Several other equities analysts also recently weighed in on VRNS. Truist Financial restated a "buy" rating and set a $60.00 price target (up from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Baird R W upgraded Varonis Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 30th. Barclays raised their price target on Varonis Systems from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Wedbush restated an "outperform" rating and set a $67.00 price target on shares of Varonis Systems in a report on Monday, August 26th. Finally, Royal Bank of Canada raised their price target on Varonis Systems from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.63.

Varonis Systems Stock Down 3.0 %

VRNS traded down $1.77 during trading on Wednesday, reaching $56.58. The stock had a trading volume of 1,161,243 shares, compared to its average volume of 1,295,327. The stock's 50 day moving average is $56.03 and its two-hundred day moving average is $49.58. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of -60.59 and a beta of 0.82. Varonis Systems has a one year low of $30.89 and a one year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data 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 business 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 18.31% and a negative net margin of 16.97%. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) earnings per share. As a group, analysts expect that Varonis Systems will post -0.83 earnings per share for the current year.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O'boyle sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC grew its stake in shares of Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock valued at $140,000 after acquiring an additional 2,442 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Varonis Systems by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company's stock worth $19,802,000 after purchasing an additional 44,826 shares in the last quarter. Compass Wealth Management LLC lifted its holdings in Varonis Systems by 26.6% in the 3rd quarter. Compass Wealth Management LLC now owns 75,693 shares of the technology company's stock worth $4,277,000 after purchasing an additional 15,900 shares in the last quarter. nVerses Capital LLC purchased a new position in Varonis Systems in the 3rd quarter worth approximately $446,000. Finally, Vontobel Holding Ltd. lifted its holdings in Varonis Systems by 226.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 20,595 shares of the technology company's stock worth $1,164,000 after purchasing an additional 14,295 shares in the last quarter. 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.