Varonis Systems (NASDAQ:VRNS) Price Target Raised to $70.00 at Barclays

Key Points

• Barclays has raised the price target for Varonis Systems from $62.00 to $70.00, indicating a potential upside of 13.97% from the current stock price, with an "overweight" rating assigned to the stock.
• Other analysts, including Morgan Stanley and Robert W. Baird, have also increased their price targets, suggesting a generally positive outlook for the company's stock.
• Despite the increased price targets, Varonis Systems' stock is trading down 1.6%, currently priced at $61.42, with a market cap of $6.88 billion.

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its price objective lifted by equities researchers at Barclays from $62.00 to $70.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Barclays's price objective indicates a potential upside of 13.97% from the stock's current price.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Varonis Systems from $59.00 to $66.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Robert W. Baird raised their price objective on shares of Varonis Systems from $58.00 to $63.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. DA Davidson raised their price objective on shares of Varonis Systems from $50.00 to $55.00 and gave the stock a "neutral" rating in a report on Tuesday. Susquehanna raised their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a "positive" rating in a report on Wednesday, July 30th. Finally, Citigroup raised their price objective on shares of Varonis Systems from $51.00 to $58.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Fourteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.18.

Varonis Systems Stock Down 1.6%

Shares of VRNS traded down $1.00 during mid-day trading on Tuesday, hitting $61.42. 120,800 shares of the company's stock were exchanged, compared to its average volume of 1,517,491. The company has a market cap of $6.88 billion, a price-to-earnings ratio of -66.57 and a beta of 0.64. Varonis Systems has a fifty-two week low of $36.53 and a fifty-two week high of $63.90. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. The stock's 50-day moving average is $57.99 and its 200-day moving average is $50.94.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The technology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $152.16 million for the quarter, compared to analysts' expectations of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The firm's revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. Varonis Systems has set its FY 2025 guidance at 0.160-0.180 EPS. Q3 2025 guidance at 0.070-0.080 EPS. On average, sell-side analysts anticipate that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.08, for a total transaction of $165,240.00. Following the sale, the director directly owned 128,666 shares in the company, valued at approximately $7,086,923.28. The trade was a 2.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 51,889 shares of the business's stock in a transaction 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 sale, the chief financial officer 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 113,386 shares of company stock worth $6,429,405. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Varonis Systems

Institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. boosted its position in shares of Varonis Systems by 179.1% during the 2nd 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. Quarry LP boosted its position in shares of Varonis Systems by 31.8% in the 1st quarter. Quarry LP now owns 1,082 shares of the technology company's stock worth $44,000 after buying an additional 261 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Varonis Systems by 344.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,213 shares of the technology company's stock worth $62,000 after buying an additional 940 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Varonis Systems in the 1st quarter worth about $69,000. Finally, Evelyn Partners Investment Management LLP boosted its position in shares of Varonis Systems by 13,746.2% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 1,800 shares of the technology company's stock worth $91,000 after buying an additional 1,787 shares in the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

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.

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