Varonis Systems (NASDAQ:VRNS) Price Target Lowered to $50.00 at Piper Sandler

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its price objective decreased by investment analysts at Piper Sandler from $55.00 to $50.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the technology company's stock. Piper Sandler's target price suggests a potential upside of 10.79% from the stock's previous close.

Several other research firms also recently weighed in on VRNS. Robert W. Baird lifted their target price on Varonis Systems from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $65.00 price objective on shares of Varonis Systems in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.35.

Varonis Systems Trading Up 1.2 %

Varonis Systems stock traded up $0.55 during mid-day trading on Monday, hitting $45.13. The company's stock had a trading volume of 1,470,247 shares, compared to its average volume of 1,158,282. Varonis Systems has a 1 year low of $41.13 and a 1 year high of $60.58. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $5.08 billion, a PE ratio of -60.17 and a beta of 0.83. The stock's fifty day moving average is $48.98 and its two-hundred day moving average is $51.69.

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

Insiders Place Their Bets

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman James O'boyle sold 50,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were 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 owns 444,114 shares of the company's stock, valued at $26,540,252.64. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Varonis Systems

Several institutional investors have recently modified their holdings of the company. O Neil Global Advisors Inc. lifted its stake in 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 valued at $229,000 after buying an additional 220 shares in the last quarter. Virtue Capital Management LLC boosted its holdings in shares of Varonis Systems by 2.3% in the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company's stock valued at $919,000 after purchasing an additional 364 shares during the last quarter. Xponance Inc. boosted its holdings in Varonis Systems by 5.6% in the second quarter. Xponance Inc. now owns 6,975 shares of the technology company's stock valued at $335,000 after acquiring an additional 367 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Varonis Systems by 3.5% during the 2nd quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company's stock worth $572,000 after purchasing an additional 401 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock valued at $29,000 after acquiring an additional 423 shares during the period. Hedge funds and other institutional investors own 95.65% of the company's stock.

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.