Varonis Systems' (VRNS) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Varonis Systems (NASDAQ:VRNS - Free Report) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $67.00 target price on the technology company's stock.

Several other research analysts have also issued reports on VRNS. Robert W. Baird raised their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. DA Davidson lowered their target price on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, December 12th. UBS Group boosted their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Piper Sandler increased their price target on Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Barclays boosted their price objective on Varonis Systems from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.35.

Varonis Systems Trading Up 1.2 %

Shares of NASDAQ:VRNS traded up $0.55 during mid-day trading on Monday, reaching $45.13. 1,470,247 shares of the company's stock were exchanged, compared to its average volume of 1,158,282. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. Varonis Systems has a twelve month low of $41.13 and a twelve month high of $60.58. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of -60.17 and a beta of 0.83. The business's fifty day moving average price is $48.98 and its 200-day moving average price is $51.69.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The business's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.22) EPS. On average, research analysts predict that Varonis Systems will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other news, Vice Chairman James O'boyle sold 50,000 shares of the firm'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 value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the sale, the chief financial officer now owns 504,598 shares of the company's stock, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VRNS. Principal Financial Group Inc. increased its stake in Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after buying an additional 147,081 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Varonis Systems by 14.5% in the third quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company's stock valued at $2,383,000 after acquiring an additional 5,031 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Varonis Systems during the third quarter valued at approximately $232,000. Virtue Capital Management LLC lifted its holdings in Varonis Systems by 2.3% during the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company's stock worth $919,000 after acquiring an additional 364 shares during the period. Finally, Geode Capital Management LLC boosted its position in Varonis Systems by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company's stock worth $147,801,000 after purchasing an additional 29,050 shares during the last quarter. 95.65% of the stock is 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.