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

Varonis Systems (NASDAQ:VRNS) had its price objective upped by Royal Bank of Canada from $56.00 to $58.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on VRNS. Citigroup lifted their target price on Varonis Systems from $35.00 to $45.00 and gave the company a neutral rating in a research report on Wednesday, January 10th. JMP Securities reissued a market outperform rating and issued a $63.00 price objective on shares of Varonis Systems in a research report on Monday, February 5th. Stephens reaffirmed an overweight rating and issued a $55.00 target price on shares of Varonis Systems in a research report on Tuesday, February 6th. Piper Sandler boosted their price target on shares of Varonis Systems from $40.00 to $45.00 and gave the stock a neutral rating in a research report on Tuesday, February 6th. Finally, Wedbush upgraded Varonis Systems from a neutral rating to an outperform rating and raised their price objective for the company from $35.00 to $65.00 in a report on Tuesday, February 6th. 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, the stock currently has an average rating of Moderate Buy and a consensus price target of $49.06.

Varonis Systems Stock Performance

Shares of VRNS opened at $45.00 on Tuesday. The firm’s 50 day moving average price is $46.85 and its two-hundred day moving average price is $44.32. 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 has a twelve month low of $22.87 and a twelve month high of $52.88. The firm has a market cap of $5.02 billion, a P/E ratio of -48.91 and a beta of 0.84.

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

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, EVP David Bass sold 116,325 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $50.32, for a total value of $5,853,474.00. Following the transaction, the executive vice president now directly owns 650,972 shares in the company, valued at $32,756,911.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP David Bass sold 116,325 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $50.32, for a total transaction of $5,853,474.00. Following the completion of the sale, the executive vice president now owns 650,972 shares in the company, valued at $32,756,911.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Dov Gottlieb sold 43,091 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total value of $2,069,229.82. Following the transaction, the vice president now owns 227,654 shares in the company, valued at approximately $10,931,945.08. The disclosure for this sale can be found here. Insiders sold 372,419 shares of company stock valued at $18,571,413 in the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in shares of Varonis Systems by 87.2% in 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 during the last quarter. Fidelis Capital Partners LLC bought a new position in Varonis Systems in the first quarter valued at about $63,000. NBC Securities Inc. acquired a new position in Varonis Systems during the first quarter worth about $68,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Varonis Systems in the fourth quarter worth about $77,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Varonis Systems by 1,779.2% in the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after purchasing an additional 1,886 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

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.