Baird R W Upgrades Varonis Systems (NASDAQ:VRNS) to “Strong-Buy”

Baird R W upgraded shares of Varonis Systems (NASDAQ:VRNS) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday, Zacks.com reports.

A number of other research firms have also recently issued reports on VRNS. Wedbush lifted their target price on shares of Varonis Systems from $65.00 to $67.00 and gave the company an outperform rating in a research note on Tuesday. Royal Bank of Canada increased their target price on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an outperform rating in a research report on Tuesday. Susquehanna boosted their price target on Varonis Systems from $55.00 to $65.00 and gave the stock a positive rating in a research report on Tuesday. Needham & Company LLC reissued a hold rating on shares of Varonis Systems in a report on Tuesday. Finally, JPMorgan Chase & Co. raised Varonis Systems from a neutral rating to an overweight rating and raised their price objective for the company from $50.00 to $54.00 in a research note on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $56.33.

Varonis Systems Stock Performance

Shares of Varonis Systems stock opened at $51.80 on Tuesday. The stock has a market cap of $5.78 billion, a PE ratio of -55.11 and a beta of 0.82. Varonis Systems has a 12 month low of $29.10 and a 12 month high of $57.00. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $46.22 and a 200-day simple moving average of $46.55.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.28%. The company had revenue of $130.35 million during the quarter, compared to analyst estimates of $124.83 million. During the same quarter last year, the business posted ($0.35) EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, sell-side analysts anticipate that Varonis Systems will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Yakov Faitelson sold 284,211 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $45.23, for a total value of $12,854,863.53. Following the completion of the transaction, the chief executive officer now directly owns 1,452,922 shares of the company’s stock, valued at approximately $65,715,662.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Large investors have recently made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in Varonis Systems by 87.2% during the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after buying an additional 429 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Varonis Systems during the 1st quarter valued at $63,000. NBC Securities Inc. bought a new position in Varonis Systems in the 1st quarter valued at $68,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Varonis Systems in the fourth quarter worth $77,000. Finally, International Assets Investment Management LLC grew its holdings 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 during the last quarter. 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.