Barclays Increases Varonis Systems (VRNS) Price Target to $58.00

Varonis Systems (NASDAQ:VRNS) had its price objective lifted by stock analysts at Barclays from $54.00 to $58.00 in a report released on Tuesday. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays’ price target points to a potential upside of 11.65% from the company’s current price.

Several other brokerages have also weighed in on VRNS. BidaskClub upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC increased their price objective on shares of Varonis Systems from $52.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Oppenheimer initiated coverage on shares of Varonis Systems in a report on Wednesday, December 6th. They issued an “outperform” rating and a $57.00 price target on the stock. Zacks Investment Research lowered shares of Varonis Systems from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Finally, Jefferies Group raised their price target on shares of Varonis Systems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $57.92.

Varonis Systems (VRNS) opened at $51.95 on Tuesday. The firm has a market cap of $1,510.00, a PE ratio of -98.02 and a beta of 0.89. Varonis Systems has a 1-year low of $26.35 and a 1-year high of $55.85.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Monday, February 12th. The technology company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.07. The business had revenue of $73.20 million for the quarter, compared to analyst estimates of $66.29 million. Varonis Systems had a negative net margin of 6.30% and a negative return on equity of 16.53%. The company’s revenue was up 34.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS. analysts expect that Varonis Systems will post -0.42 EPS for the current year.

In related news, insider Ohad Korkus sold 48,024 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $50.26, for a total value of $2,413,686.24. Following the transaction, the insider now owns 31,872 shares in the company, valued at $1,601,886.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Guy Melamed sold 897 shares of Varonis Systems stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $48.95, for a total transaction of $43,908.15. Following the sale, the chief financial officer now owns 95,408 shares in the company, valued at approximately $4,670,221.60. The disclosure for this sale can be found here. Insiders sold 223,754 shares of company stock worth $11,352,516 in the last 90 days. 19.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Crestline Management LP purchased a new stake in shares of Varonis Systems during the fourth quarter valued at approximately $752,000. Millennium Management LLC raised its stake in shares of Varonis Systems by 6.4% during the fourth quarter. Millennium Management LLC now owns 827,424 shares of the technology company’s stock valued at $40,171,000 after purchasing an additional 49,532 shares during the period. Teachers Advisors LLC raised its stake in shares of Varonis Systems by 3.0% during the fourth quarter. Teachers Advisors LLC now owns 35,037 shares of the technology company’s stock valued at $1,701,000 after purchasing an additional 1,029 shares during the period. Two Sigma Advisers LP raised its stake in shares of Varonis Systems by 11.8% during the fourth quarter. Two Sigma Advisers LP now owns 382,273 shares of the technology company’s stock valued at $18,559,000 after purchasing an additional 40,500 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Varonis Systems by 97.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 91,672 shares of the technology company’s stock valued at $4,450,000 after purchasing an additional 45,307 shares during the period. Institutional investors own 84.91% of the company’s stock.

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Varonis Systems Company Profile

Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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