Varonis Systems (NASDAQ:VRNS) Given New $62.00 Price Target at Robert W. Baird

Varonis Systems (NASDAQ:VRNS) had its price objective lifted by Robert W. Baird from $60.00 to $62.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Robert W. Baird’s price target points to a potential upside of 6.26% from the stock’s current price.

VRNS has been the topic of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Varonis Systems in a report on Monday, August 26th. TD Cowen upped their price target on Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Finally, Susquehanna upped their price target on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Varonis Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.80.

Varonis Systems Stock Down 0.3 %

Shares of VRNS opened at $58.35 on Wednesday. Varonis Systems has a 52 week low of $30.89 and a 52 week high of $60.58. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of -62.07 and a beta of 0.82. The stock’s 50-day moving average price is $56.03 and its 200-day moving average price is $49.58.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The firm had revenue of $130.35 million for the quarter, compared to the consensus estimate of $124.83 million. During the same quarter in the prior year, the business earned ($0.35) earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts predict that Varonis Systems will post -0.83 EPS for the current year.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the 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 completion of the sale, the insider now owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Several hedge funds and other institutional investors have recently made changes to their positions in VRNS. Fidelis Capital Partners LLC acquired a new stake in shares of Varonis Systems in the first quarter valued at approximately $63,000. International Assets Investment Management LLC increased its holdings in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after purchasing an additional 2,442 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Varonis Systems in the second quarter valued at approximately $215,000. O Neil Global Advisors Inc. increased its holdings in shares of Varonis Systems by 4.8% in the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after purchasing an additional 220 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Varonis Systems in the second quarter valued at approximately $260,000. 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.