Varonis Systems (NASDAQ:VRNS) Price Target Raised to $58.00 at Robert W. Baird

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its target price boosted by equities research analysts at Robert W. Baird from $55.00 to $58.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Robert W. Baird's price target indicates a potential upside of 8.46% from the stock's previous close.

VRNS has been the subject of several other reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $60.00 target price on shares of Varonis Systems in a research report on Tuesday. UBS Group boosted their price objective on Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wolfe Research upgraded Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Friday, March 28th. Royal Bank Of Canada upped their price target on Varonis Systems from $55.00 to $58.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Wall Street Zen raised Varonis Systems from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.67.

Varonis Systems Trading Up 3.2%

Shares of NASDAQ VRNS traded up $1.67 during trading on Thursday, hitting $53.48. 828,881 shares of the company were exchanged, compared to its average volume of 1,525,385. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.15 and a current ratio of 1.15. The company has a fifty day moving average price of $49.56 and a 200-day moving average price of $45.02. The firm has a market capitalization of $5.99 billion, a PE ratio of -66.07 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The company had revenue of $136.42 million during the quarter, compared to analysts' expectations of $133.10 million. Varonis Systems had a negative net margin of 15.88% and a negative return on equity of 20.01%. The firm's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) earnings per share. As a group, equities research analysts expect that Varonis Systems will post -0.83 EPS for the current year.

Insider Buying and Selling at Varonis Systems

In related news, Director Den Bosch Fred Van sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the transaction, the director directly owned 131,666 shares of the company's stock, valued at approximately $6,583,300. The trade was a 4.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Varonis Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Varonis Systems by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock valued at $544,124,000 after acquiring an additional 193,210 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Varonis Systems by 26.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,084,830 shares of the technology company's stock valued at $165,231,000 after purchasing an additional 848,408 shares during the period. RGM Capital LLC boosted its position in Varonis Systems by 45.5% during the 1st quarter. RGM Capital LLC now owns 2,706,531 shares of the technology company's stock valued at $109,479,000 after purchasing an additional 846,475 shares during the period. First Trust Advisors LP boosted its position in Varonis Systems by 4.8% during the 4th quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company's stock valued at $111,145,000 after purchasing an additional 113,573 shares during the period. Finally, Voya Investment Management LLC boosted its position in Varonis Systems by 98.6% during the 1st quarter. Voya Investment Management LLC now owns 2,321,317 shares of the technology company's stock valued at $93,897,000 after purchasing an additional 1,152,687 shares during the period. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Company Profile

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.

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