Royal Bank of Canada Increases Varonis Systems (NASDAQ:VRNS) Price Target to $58.00

Varonis Systems (NASDAQ:VRNS) had its target price increased by equities research analysts at Royal Bank of Canada from $56.00 to $58.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target points to a potential upside of 27.08% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Robert W. Baird increased their target price on shares of Varonis Systems from $48.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday. Wedbush raised Varonis Systems from a “neutral” rating to an “outperform” rating and increased their target price for the company from $35.00 to $65.00 in a research report on Tuesday, February 6th. JMP Securities restated a “market outperform” rating and set a $63.00 price objective on shares of Varonis Systems in a research note on Monday, February 5th. Stephens reiterated an “overweight” rating and issued a $55.00 target price on shares of Varonis Systems in a research note on Tuesday, February 6th. Finally, Citigroup increased their price target on shares of Varonis Systems from $35.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Varonis Systems has a consensus rating of “Moderate Buy” and an average target price of $49.06.

Varonis Systems Stock Up 1.4 %

Shares of NASDAQ VRNS opened at $45.64 on Tuesday. The stock has a 50 day moving average price of $46.75 and a 200 day moving average price of $44.33. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of -49.61 and a beta of 0.84. Varonis Systems has a 52-week low of $23.09 and a 52-week high of $52.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.50 and a current ratio of 2.50.

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

Insider Buying and Selling

In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the sale, the director now owns 19,263 shares in the company, valued at approximately $973,552.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of Varonis Systems stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total transaction of $985,530.00. Following the completion of the sale, the director now directly owns 19,263 shares in the company, valued at approximately $973,552.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ofer Segev sold 5,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 75,682 shares in the company, valued at approximately $3,945,302.66. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Varonis Systems

Institutional investors have recently modified their holdings of the stock. Quadrant Capital Group LLC increased its holdings in shares of Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after purchasing an additional 429 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in Varonis Systems during the first quarter worth about $63,000. NBC Securities Inc. purchased a new stake in shares of Varonis Systems in the 1st quarter valued at approximately $68,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Varonis Systems during the 4th quarter worth approximately $77,000. Finally, International Assets Investment Management LLC raised its position in shares of Varonis Systems by 1,779.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after buying an additional 1,886 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

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.