UBS Group Issues Positive Forecast for Varonis Systems (NASDAQ:VRNS) Stock Price

Key Points

• UBS Group has raised its price target for Varonis Systems from $60.00 to $65.00, indicating a potential upside of 15% from its current stock price.
• Analysts' ratings for Varonis Systems are largely positive, with 14 analysts giving it a "buy" rating and an average target price set at $57.78.
• Varonis Systems recently reported a quarterly revenue increase of 16.7%, totaling $152.16 million, exceeding analyst estimates.

Varonis Systems (NASDAQ:VRNS - Free Report) had its price objective upped by UBS Group from $60.00 to $65.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

Other research analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Varonis Systems from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Needham & Company LLC upped their price objective on shares of Varonis Systems from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Royal Bank Of Canada upped their price objective on shares of Varonis Systems from $58.00 to $64.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.31.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS traded down $1.10 on Wednesday, reaching $54.73. 2,070,121 shares of the company were exchanged, compared to its average volume of 1,689,729. The company has a current ratio of 1.38, a quick ratio of 1.15 and a debt-to-equity ratio of 1.32. Varonis Systems has a 1-year low of $36.53 and a 1-year high of $60.58. The firm has a market cap of $6.13 billion, a price-to-earnings ratio of -59.49 and a beta of 0.71. The company has a 50-day moving average of $50.76 and a 200-day moving average of $45.52.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The business had revenue of $152.16 million for the quarter, compared to analyst estimates of $147.80 million. During the same period in the previous year, the firm earned $0.05 EPS. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. Equities analysts forecast that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Guy Melamed sold 51,889 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the completion of the transaction, the chief financial officer directly owned 470,602 shares in the company, valued at $25,930,170.20. The trade was a 9.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Den Bosch Fred Van sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the sale, the director owned 131,666 shares in the company, valued at approximately $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,889 shares of company stock valued at $3,324,324. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of Varonis Systems

Several institutional investors have recently bought and sold shares of the stock. Quarry LP boosted its stake in Varonis Systems by 31.8% in the first quarter. Quarry LP now owns 1,082 shares of the technology company's stock worth $44,000 after purchasing an additional 261 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Varonis Systems by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 85,255 shares of the technology company's stock worth $3,449,000 after purchasing an additional 284 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Varonis Systems by 7.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company's stock worth $193,000 after purchasing an additional 298 shares in the last quarter. Teza Capital Management LLC boosted its stake in Varonis Systems by 3.1% in the fourth quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company's stock worth $437,000 after purchasing an additional 299 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Varonis Systems by 179.1% in the second quarter. Bessemer Group Inc. now owns 494 shares of the technology company's stock worth $25,000 after purchasing an additional 317 shares in 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.