JPMorgan Chase & Co. Increases Varonis Systems (NASDAQ:VRNS) Price Target to $65.00

Varonis Systems (NASDAQ:VRNS - Free Report) had its price objective upped by JPMorgan Chase & Co. from $59.00 to $65.00 in a report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company's stock.

A number of other equities analysts have also recently issued reports on the company. Baird R W raised Varonis Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of Varonis Systems in a research note on Tuesday, July 30th. TD Cowen lifted their target price on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Barclays upped their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, Wedbush reiterated an "outperform" rating and set a $67.00 price target on shares of Varonis Systems in a report on Monday, August 26th. Six 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $58.31.

Varonis Systems Price Performance

NASDAQ VRNS traded up $0.52 during trading on Monday, hitting $57.38. 1,978,280 shares of the company's stock were exchanged, compared to its average volume of 1,295,877. The stock's 50 day moving average price is $56.11 and its two-hundred day moving average price is $49.79. Varonis Systems has a fifty-two week low of $31.03 and a fifty-two week high of $60.58. 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 cap of $6.40 billion, a PE ratio of -61.32 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate 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 net margin of 16.97% and a negative return on equity of 18.31%. The firm's revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.35) EPS. Research analysts expect that Varonis Systems will post -0.83 EPS for the current year.

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O'boyle sold 50,000 shares of Varonis Systems stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Varonis Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC bought a new position in Varonis Systems in the 1st quarter worth about $63,000. International Assets Investment Management LLC increased its position in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock worth $140,000 after purchasing an additional 2,442 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Varonis Systems in the second quarter valued at approximately $215,000. O Neil Global Advisors Inc. lifted its position in 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 during the last quarter. Finally, Stephens Inc. AR purchased a new position in Varonis Systems in the 3rd quarter worth approximately $276,000. Hedge funds and other 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.