Varonis Systems (NASDAQ:VRNS) Price Target Raised to $81.00

Varonis Systems (NASDAQ:VRNS) had its target price raised by Barclays from $71.00 to $81.00 in a report released on Tuesday, The Fly reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Barclays‘s price target indicates a potential upside of 13.62% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Booz Allen Hamilton from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Friday, June 28th. BidaskClub lowered shares of Woodward, Inc.Common Stock from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Robert W. Baird lowered shares of Pieris Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Tuesday. Wedbush lifted their price objective on shares of Varonis Systems from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Stifel Nicolaus lifted their price objective on shares of Western Digital from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Varonis Systems presently has an average rating of “Buy” and a consensus target price of $72.44.

Shares of NASDAQ VRNS traded up $1.91 during midday trading on Tuesday, reaching $71.29. The stock had a trading volume of 2,141,465 shares, compared to its average volume of 404,624. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -72.74 and a beta of 1.01. Varonis Systems has a twelve month low of $48.67 and a twelve month high of $80.00. The firm has a 50 day simple moving average of $64.39.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, April 29th. The technology company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.04). The company had revenue of $56.40 million during the quarter, compared to the consensus estimate of $59.36 million. Varonis Systems had a negative net margin of 13.24% and a negative return on equity of 30.00%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.22) EPS. On average, sell-side analysts expect that Varonis Systems will post -1.75 earnings per share for the current year.

In other Varonis Systems news, EVP David Bass sold 42,416 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $72.54, for a total transaction of $3,076,856.64. Following the completion of the sale, the executive vice president now owns 202,833 shares in the company, valued at approximately $14,713,505.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC bought a new stake in Varonis Systems during the 1st quarter valued at $83,000. Amundi Pioneer Asset Management Inc. bought a new stake in Varonis Systems during the 1st quarter valued at $131,000. Northeast Financial Consultants Inc bought a new stake in Varonis Systems during the 1st quarter valued at $209,000. Amalgamated Bank bought a new stake in Varonis Systems during the 4th quarter valued at $218,000. Finally, Stone Ridge Asset Management LLC bought a new stake in Varonis Systems during the 4th quarter valued at $228,000. Institutional investors and hedge funds own 89.62% of the company’s stock.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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