Varonis Systems (NASDAQ:VRNS) Given New $65.00 Price Target at Susquehanna

Key Points

• Susquehanna raised Varonis Systems' price target from $55.00 to $65.00, indicating a potential upside of 19.86% from the previous close, maintaining a "positive" rating on the stock.
• In addition to Susquehanna, other analysts have also increased their price targets for Varonis, with a consensus target at $57.00 and a current average rating of "Moderate Buy."
• Varonis reported earnings of $0.03 per share, beating estimates and showing a 16.7% revenue growth year-over-year, despite posting a negative return on equity and net margin.

Varonis Systems (NASDAQ:VRNS - Free Report) had its target price boosted by Susquehanna from $55.00 to $65.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a positive rating on the technology company's stock.

VRNS has been the topic of several other reports. Jefferies Financial Group raised shares of Varonis Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $50.00 to $65.00 in a research report on Thursday, July 24th. Morgan Stanley cut their price objective on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. DA Davidson increased their price objective on shares of Varonis Systems from $47.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Varonis Systems from $46.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.31.

Varonis Systems Stock Down 2.1%

Shares of NASDAQ:VRNS traded down $1.18 during midday trading on Wednesday, reaching $54.65. The company's stock had a trading volume of 311,498 shares, compared to its average volume of 1,561,506. The firm has a 50 day moving average of $50.60 and a 200-day moving average of $45.45. The firm has a market capitalization of $6.12 billion, a P/E ratio of -59.49 and a beta of 0.76. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.23. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 22.01%. The firm had revenue of $152.16 million for the quarter, compared to the consensus estimate of $147.80 million. During the same period in the prior year, the firm earned $0.05 EPS. The company's revenue was up 16.7% compared to the same quarter last year. On average, research analysts anticipate that Varonis Systems will post -0.83 earnings per share for the current year.

Insider Buying and Selling at Varonis Systems

In other news, Director Den Bosch Fred Van sold 6,000 shares of the 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 transaction, the director owned 131,666 shares in the company, valued at $6,583,300. This represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new stake in Varonis Systems during the 2nd quarter worth approximately $278,000. Fiduciary Wealth Partners LLC bought a new stake in Varonis Systems during the 2nd quarter worth approximately $228,000. Focus Partners Advisor Solutions LLC bought a new stake in Varonis Systems during the 2nd quarter worth approximately $210,000. Stephens Investment Management Group LLC raised its stake in Varonis Systems by 4.1% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,670,404 shares of the technology company's stock worth $84,773,000 after acquiring an additional 65,846 shares during the period. Finally, Cookson Peirce & Co. Inc. bought a new stake in Varonis Systems during the 2nd quarter worth approximately $2,690,000. Institutional investors 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.