Varonis Systems (NASDAQ:VRNS) Given New $50.00 Price Target at Robert W. Baird

Varonis Systems (NASDAQ:VRNS) had its price target raised by equities researchers at Robert W. Baird from $48.00 to $50.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price objective indicates a potential upside of 12.13% from the company’s previous close.

A number of other research firms have also weighed in on VRNS. Royal Bank of Canada reissued an “outperform” rating and issued a $56.00 target price on shares of Varonis Systems in a research note on Friday, March 15th. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price target (up previously from $37.00) on shares of Varonis Systems in a research report on Thursday, January 18th. Wells Fargo & Company upped their price target on Varonis Systems from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Stephens reaffirmed an “overweight” rating and set a $55.00 price target on shares of Varonis Systems in a research report on Tuesday, February 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $63.00 price target on shares of Varonis Systems in a research report on Monday, February 5th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Varonis Systems has a consensus rating of “Moderate Buy” and an average target price of $48.94.

Varonis Systems Trading Up 1.9 %

NASDAQ VRNS opened at $44.59 on Tuesday. Varonis Systems has a 1-year low of $22.87 and a 1-year high of $52.88. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average of $46.97 and a 200-day moving average of $44.23. The firm has a market cap of $4.98 billion, a PE ratio of -48.47 and a beta of 0.84.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The company had revenue of $154.10 million during the quarter, compared to analyst estimates of $151.64 million. As a group, sell-side analysts forecast that Varonis Systems will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $52.13, for a total value of $260,650.00. Following the completion of the sale, the director now owns 75,682 shares of the company’s stock, valued at $3,945,302.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Guy Melamed sold 188,503 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $49.88, for a total transaction of $9,402,529.64. Following the transaction, the chief financial officer now directly owns 645,876 shares of the company’s stock, valued at $32,216,294.88. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ofer Segev sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $52.13, for a total transaction of $260,650.00. Following the transaction, the director now directly owns 75,682 shares in the company, valued at $3,945,302.66. The disclosure for this sale can be found here. Insiders sold a total of 372,419 shares of company stock valued at $18,571,413 over the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Several institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its holdings in Varonis Systems by 87.2% in the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after purchasing an additional 429 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Varonis Systems during the first quarter valued at $63,000. NBC Securities Inc. purchased a new position in Varonis Systems in the first quarter valued at $68,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Varonis Systems during the fourth quarter worth about $77,000. Finally, International Assets Investment Management LLC increased its stake in shares of Varonis Systems by 1,779.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after purchasing an additional 1,886 shares in the last quarter. 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.