Varonis Systems (NASDAQ:VRNS) Given New $50.00 Price Target at Robert W. Baird

Varonis Systems (NASDAQ:VRNS) had its price target boosted by investment analysts at Robert W. Baird from $48.00 to $50.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price objective points to a potential upside of 12.13% from the company’s previous close.

Other analysts have also issued reports about the company. Royal Bank of Canada restated an “outperform” rating and issued a $56.00 target price on shares of Varonis Systems in a research note on Friday, March 15th. Citigroup lifted their price objective on Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Wedbush upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $35.00 to $65.00 in a research report on Tuesday, February 6th. Stephens restated an “overweight” rating and set a $55.00 target price on shares of Varonis Systems in a report on Tuesday, February 6th. Finally, Truist Financial restated a “buy” rating and set a $55.00 target price (up previously from $50.00) on shares of Varonis Systems in a report on Wednesday, March 13th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.94.

Varonis Systems Stock Up 1.9 %

Shares of NASDAQ VRNS opened at $44.59 on Tuesday. The stock has a market cap of $4.98 billion, a PE ratio of -48.47 and a beta of 0.84. The business has a fifty day moving average of $46.97 and a two-hundred day moving average of $44.23. Varonis Systems has a 52-week low of $22.87 and a 52-week high of $52.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.50 and a current ratio of 2.50.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The company had revenue of $154.10 million during the quarter, compared to analyst estimates of $151.64 million. As a group, equities research analysts expect that Varonis Systems will post -0.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total value of $985,530.00. Following the sale, the director now owns 19,263 shares in the company, valued at approximately $973,552.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the transaction, the director now owns 19,263 shares of the company’s stock, valued at approximately $973,552.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dov Gottlieb sold 43,091 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total value of $2,069,229.82. Following the transaction, the vice president now directly owns 227,654 shares in the company, valued at approximately $10,931,945.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 372,419 shares of company stock worth $18,571,413. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its holdings in shares of Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after acquiring an additional 429 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Varonis Systems during the 1st quarter worth approximately $63,000. NBC Securities Inc. acquired a new position in shares of Varonis Systems during the 1st quarter worth approximately $68,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Varonis Systems during the 4th quarter worth approximately $77,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Varonis Systems by 1,779.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after acquiring an additional 1,886 shares during the last quarter. Institutional investors and hedge funds 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.