Morgan Stanley Increases Varonis Systems (NASDAQ:VRNS) Price Target to $105.00

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Varonis Systems (NASDAQ:VRNS) had its price objective increased by Morgan Stanley from $97.00 to $105.00 in a research note published on Tuesday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on VRNS. Craig Hallum lifted their price objective on Varonis Systems from $75.00 to $82.00 in a research note on Tuesday, October 29th. Barclays reiterated a hold rating and issued a $91.00 price objective on shares of Varonis Systems in a research note on Wednesday, January 22nd. Zacks Investment Research cut Varonis Systems from a buy rating to a hold rating in a research note on Tuesday, December 10th. ValuEngine cut Varonis Systems from a buy rating to a hold rating in a research note on Friday, January 3rd. Finally, BidaskClub upgraded Varonis Systems from a hold rating to a buy rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $94.27.

Shares of VRNS opened at $92.63 on Tuesday. The stock has a 50-day simple moving average of $83.95 and a 200-day simple moving average of $73.03. The stock has a market capitalization of $2.84 billion, a PE ratio of -35.49 and a beta of 0.92. Varonis Systems has a 1 year low of $52.52 and a 1 year high of $93.24.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Monday, February 10th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.38. The business had revenue of $72.60 million during the quarter, compared to analysts’ expectations of $72.05 million. Varonis Systems had a negative return on equity of 72.60% and a negative net margin of 30.99%. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. Research analysts forecast that Varonis Systems will post -2.03 EPS for the current fiscal year.

In related news, CEO Yakov Faitelson sold 65,176 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $83.49, for a total transaction of $5,441,544.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gili Iohan sold 11,765 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $85.48, for a total value of $1,005,672.20. Following the sale, the director now owns 18,131 shares of the company’s stock, valued at approximately $1,549,837.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,441 shares of company stock valued at $6,867,471. 2.80% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Carroll Financial Associates Inc. purchased a new stake in Varonis Systems during the fourth quarter worth approximately $41,000. Valeo Financial Advisors LLC increased its position in Varonis Systems by 292.2% during the third quarter. Valeo Financial Advisors LLC now owns 702 shares of the technology company’s stock worth $42,000 after buying an additional 523 shares during the period. Tower Research Capital LLC TRC increased its position in Varonis Systems by 1,147.8% during the third quarter. Tower Research Capital LLC TRC now owns 836 shares of the technology company’s stock worth $50,000 after buying an additional 769 shares during the period. Acadian Asset Management LLC acquired a new position in Varonis Systems during the fourth quarter worth approximately $72,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Varonis Systems during the third quarter worth approximately $66,000. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

See Also: Buy Rating

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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