Varonis Systems (NASDAQ:VRNS) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Varonis Systems (NASDAQ:VRNS – Get Rating) from an underweight rating to an equal weight rating in a research report sent to investors on Wednesday morning, Marketbeat reports. They currently have $26.00 price objective on the technology company’s stock.

A number of other brokerages also recently weighed in on VRNS. JMP Securities reiterated a market outperform rating and issued a $63.00 target price on shares of Varonis Systems in a report on Tuesday, February 7th. Jefferies Financial Group downgraded Varonis Systems from a buy rating to a hold rating and dropped their target price for the company from $30.00 to $26.00 in a report on Thursday, January 5th. Robert W. Baird downgraded Varonis Systems from an outperform rating to a neutral rating and set a $30.00 target price on the stock. in a report on Monday, January 30th. Needham & Company LLC downgraded Varonis Systems from a buy rating to a hold rating in a report on Thursday, February 2nd. Finally, Truist Financial dropped their target price on Varonis Systems from $40.00 to $35.00 in a report on Monday, January 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $30.94.

Varonis Systems Stock Performance

Shares of NASDAQ VRNS opened at $25.37 on Wednesday. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -22.25 and a beta of 0.88. The stock’s fifty day simple moving average is $26.35 and its 200 day simple moving average is $24.82. Varonis Systems has a 52-week low of $15.61 and a 52-week high of $51.60.

Varonis Systems (NASDAQ:VRNS – Get Rating) last issued its earnings results on Monday, February 6th. The technology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.03. The business had revenue of $142.62 million during the quarter, compared to analysts’ expectations of $140.58 million. Varonis Systems had a negative return on equity of 23.10% and a negative net margin of 26.29%. As a group, sell-side analysts forecast that Varonis Systems will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Director Ofer Segev sold 1,500 shares of Varonis Systems stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $23.78, for a total transaction of $35,670.00. Following the completion of the transaction, the director now directly owns 72,410 shares of the company’s stock, valued at $1,721,909.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Varonis Systems by 1.4% during the third quarter. Vanguard Group Inc. now owns 10,726,377 shares of the technology company’s stock worth $284,463,000 after purchasing an additional 146,188 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Varonis Systems by 17.1% during the fourth quarter. William Blair Investment Management LLC now owns 6,181,738 shares of the technology company’s stock worth $147,991,000 after purchasing an additional 903,819 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Varonis Systems by 10.8% during the fourth quarter. First Trust Advisors LP now owns 4,384,695 shares of the technology company’s stock worth $104,909,000 after purchasing an additional 428,410 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Varonis Systems by 0.8% during the fourth quarter. Clearbridge Investments LLC now owns 3,511,924 shares of the technology company’s stock worth $84,075,000 after purchasing an additional 26,844 shares in the last quarter. Finally, Soma Equity Partners LP lifted its position in shares of Varonis Systems by 27.3% during the fourth quarter. Soma Equity Partners LP now owns 3,500,000 shares of the technology company’s stock worth $83,790,000 after purchasing an additional 750,000 shares in the last quarter. 90.72% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Company Profile

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Varonis Systems, Inc engages in protecting enterprise data such as sensitive files and emails, confidential customer, patient, and employee data, financial records, strategic and product plans, and other intellectual property. It operates through the following geographical segments: North America, EMEA, and Rest of the World.