Wells Fargo & Company Issues Positive Forecast for Varonis Systems (NASDAQ:VRNS) Stock Price

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its price objective boosted by investment analysts at Wells Fargo & Company from $46.00 to $51.00 in a report released on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's target price points to a potential downside of 3.02% from the company's previous close.

VRNS has been the topic of several other research reports. UBS Group lifted their price target on Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley decreased their price target on Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Barclays increased their target price on Varonis Systems from $54.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Friday, March 28th. Finally, Royal Bank Of Canada raised their target price on Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus price target of $55.78.

Varonis Systems Stock Performance

VRNS stock traded up $1.29 during trading hours on Monday, hitting $52.59. 291,707 shares of the stock were exchanged, compared to its average volume of 1,527,696. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $5.89 billion, a P/E ratio of -64.89 and a beta of 0.76. The company has a 50-day simple moving average of $49.19 and a two-hundred day simple moving average of $44.87. 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, May 6th. The technology company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.26). The company had revenue of $136.42 million for the quarter, compared to the consensus estimate of $133.10 million. Varonis Systems had a negative net margin of 15.88% and a negative return on equity of 20.01%. The business's revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, analysts forecast that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Den Bosch Fred Van sold 6,000 shares of the firm's stock in a transaction 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 completion of the sale, the director directly owned 131,666 shares of the company's stock, valued at $6,583,300. This trade represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Varonis Systems

Several large investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in Varonis Systems in the 4th quarter worth about $36,000. Johnson Financial Group Inc. purchased a new stake in Varonis Systems during the 4th quarter worth about $61,000. Transce3nd LLC purchased a new stake in Varonis Systems during the 4th quarter worth about $62,000. New Age Alpha Advisors LLC purchased a new stake in Varonis Systems during the 4th quarter worth about $70,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Varonis Systems during the 1st quarter worth about $69,000. 95.65% of the stock is 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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