Robert W. Baird Boosts Varonis Systems (NASDAQ:VRNS) Price Target to $50.00

Varonis Systems (NASDAQ:VRNS) had its target price boosted by Robert W. Baird from $48.00 to $50.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Varonis Systems from $49.00 to $50.00 and gave the stock a neutral rating in a report on Tuesday, February 6th. Royal Bank of Canada reissued an outperform rating and set a $56.00 price objective on shares of Varonis Systems in a report on Friday, March 15th. 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. Piper Sandler boosted their price objective on shares of Varonis Systems from $40.00 to $45.00 and gave the stock a neutral rating in a report on Tuesday, February 6th. Finally, DA Davidson reiterated a neutral rating and issued a $45.00 target price (up previously from $37.00) on shares of Varonis Systems in a research report on Thursday, January 18th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Varonis Systems presently has an average rating of Moderate Buy and an average target price of $49.06.

Varonis Systems Price Performance

Varonis Systems stock opened at $45.19 on Tuesday. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of -48.07 and a beta of 0.84. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.51. The business has a 50-day simple moving average of $46.64 and a 200 day simple moving average of $44.34. Varonis Systems has a 52 week low of $23.09 and a 52 week high of $52.88.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. The company had revenue of $154.10 million during the quarter, compared to analyst estimates of $151.64 million. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. On average, research analysts forecast that Varonis Systems will post -0.96 earnings per share for the current fiscal year.

Insider Activity at Varonis Systems

In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VRNS. Fortis Capital Advisors LLC boosted its position in shares of Varonis Systems by 96.4% during the first quarter. Fortis Capital Advisors LLC now owns 20,455 shares of the technology company’s stock valued at $965,000 after purchasing an additional 10,042 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Varonis Systems by 12.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 34,958 shares of the technology company’s stock valued at $1,649,000 after buying an additional 3,920 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Varonis Systems in the 1st quarter worth about $368,000. ProShare Advisors LLC increased its stake in shares of Varonis Systems by 8.1% in the 1st quarter. ProShare Advisors LLC now owns 19,910 shares of the technology company’s stock worth $939,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new position in Varonis Systems during the 1st quarter valued at about $19,194,000. Institutional investors own 95.65% of the company’s stock.

About Varonis Systems

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.