Varonis Systems (NASDAQ:VRNS) had its price objective lowered by research analysts at Needham & Company LLC to $75.00 in a note issued to investors on Tuesday, Analyst Price Targets reports. The brokerage presently has a "buy" rating on the technology company's stock. Needham & Company LLC's target price indicates a potential upside of 57.27% from the company's previous close.
A number of other brokerages have also recently weighed in on VRNS. Truist lifted their price target on shares of Varonis Systems from $68.33 to $73.33 in a research report on Tuesday, February 9th. JMP Securities increased their price target on Varonis Systems from $66.67 to $72.67 and gave the stock an "outperform" rating in a report on Tuesday, February 9th. Benchmark raised their price target on Varonis Systems from $48.33 to $68.33 and gave the stock a "buy" rating in a research report on Tuesday, February 9th. Barclays boosted their price objective on Varonis Systems from $58.33 to $63.67 and gave the company an "equal weight" rating in a research report on Tuesday, February 9th. Finally, Craig Hallum raised their target price on shares of Varonis Systems from $50.00 to $78.33 and gave the stock a "buy" rating in a report on Tuesday, February 9th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of "Buy" and a consensus price target of $62.93.
VRNS traded up $0.54 during midday trading on Tuesday, reaching $47.69. 1,010,873 shares of the company were exchanged, compared to its average volume of 1,410,095. The stock has a market capitalization of $5.06 billion, a P/E ratio of -16.83 and a beta of 1.12. Varonis Systems has a one year low of $22.75 and a one year high of $75.33. The stock's 50-day simple moving average is $53.64 and its 200 day simple moving average is $54.53. The company has a debt-to-equity ratio of 2.74, a quick ratio of 2.69 and a current ratio of 2.69.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Sunday, May 2nd. The technology company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.05. The business had revenue of $74.79 million for the quarter, compared to the consensus estimate of $69.02 million. Varonis Systems had a negative net margin of 33.75% and a negative return on equity of 97.77%. Varonis Systems's revenue for the quarter was up 38.0% on a year-over-year basis. During the same period last year, the company posted ($0.56) EPS. On average, research analysts anticipate that Varonis Systems will post -2.73 earnings per share for the current year.
In other Varonis Systems news, Director Den Bosch Fred Van sold 1,500 shares of Varonis Systems stock in a transaction on Monday, March 1st. The shares were sold at an average price of $187.97, for a total transaction of $281,955.00. Following the completion of the transaction, the director now directly owns 47,484 shares of the company's stock, valued at $8,925,567.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP James O'boyle sold 17,189 shares of the company's stock in a transaction on Monday, March 1st. The shares were sold at an average price of $182.50, for a total transaction of $3,136,992.50. The disclosure for this sale can be found here. Insiders sold a total of 282,299 shares of company stock valued at $40,933,811 over the last quarter. 2.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in VRNS. Baillie Gifford & Co. acquired a new position in Varonis Systems in the 4th quarter valued at $34,000. Advisory Services Network LLC bought a new stake in Varonis Systems in the 4th quarter valued at about $65,000. The PNC Financial Services Group Inc. grew its position in shares of Varonis Systems by 224.4% during the 1st quarter. The PNC Financial Services Group Inc. now owns 665 shares of the technology company's stock worth $34,000 after purchasing an additional 460 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of Varonis Systems by 200.0% during the first quarter. Harbor Investment Advisory LLC now owns 792 shares of the technology company's stock worth $41,000 after purchasing an additional 528 shares during the period. Finally, Kistler Tiffany Companies LLC raised its position in shares of Varonis Systems by 200.0% in the first quarter. Kistler Tiffany Companies LLC now owns 909 shares of the technology company's stock valued at $47,000 after buying an additional 606 shares in the last quarter.
Varonis Systems Company Profile
Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, 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; strategic and product plans; and other intellectual property.
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