Varonis Systems Inc (NASDAQ:VRNS) Receives $117.75 Average Price Target from Analysts

Varonis Systems Inc (NASDAQ:VRNS) has earned an average recommendation of “Buy” from the twenty-one research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $118.06.

VRNS has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of Varonis Systems from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, July 20th. Piper Sandler boosted their price objective on shares of Varonis Systems from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Jefferies Financial Group reissued a “buy” rating on shares of Varonis Systems in a research report on Wednesday, August 19th. SunTrust Banks initiated coverage on shares of Varonis Systems in a research report on Thursday, July 23rd. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Robert W. Baird lowered shares of Varonis Systems from an “outperform” rating to a “neutral” rating and set a $110.00 price objective for the company. in a research report on Thursday, July 23rd.

In other Varonis Systems news, CFO Guy Melamed sold 13,553 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $94.61, for a total value of $1,282,249.33. Following the transaction, the chief financial officer now directly owns 177,286 shares of the company’s stock, valued at $16,773,028.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Bass sold 47,500 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $99.08, for a total value of $4,706,300.00. Following the transaction, the executive vice president now owns 172,275 shares in the company, valued at approximately $17,069,007. The disclosure for this sale can be found here. Insiders have sold 175,977 shares of company stock valued at $18,934,584 in the last ninety days. 2.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its stake in shares of Varonis Systems by 29.3% during the second quarter. Jennison Associates LLC now owns 591,981 shares of the technology company’s stock valued at $52,378,000 after purchasing an additional 134,003 shares during the period. American International Group Inc. increased its stake in Varonis Systems by 7.3% during the 2nd quarter. American International Group Inc. now owns 19,061 shares of the technology company’s stock worth $1,687,000 after buying an additional 1,301 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in Varonis Systems by 77.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 54,345 shares of the technology company’s stock worth $3,460,000 after buying an additional 23,802 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Varonis Systems by 107.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,024 shares of the technology company’s stock valued at $975,000 after buying an additional 5,705 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of Varonis Systems by 1.6% during the first quarter. William Blair Investment Management LLC now owns 1,444,959 shares of the technology company’s stock valued at $92,001,000 after acquiring an additional 22,192 shares in the last quarter.

Shares of NASDAQ VRNS traded up $0.44 on Wednesday, hitting $112.90. The company’s stock had a trading volume of 228,149 shares, compared to its average volume of 370,772. Varonis Systems has a 12-month low of $48.95 and a 12-month high of $127.37. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of -39.89 and a beta of 1.17. The company has a debt-to-equity ratio of 3.42, a current ratio of 2.69 and a quick ratio of 2.69. The stock has a 50 day moving average of $115.76 and a 200-day moving average of $87.58.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, August 3rd. The technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.20. Varonis Systems had a negative net margin of 33.75% and a negative return on equity of 97.77%. The company had revenue of $66.57 million for the quarter, compared to the consensus estimate of $56.89 million. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts expect that Varonis Systems will post -2.73 EPS for the current fiscal year.

About Varonis Systems

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.

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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