Varonis Systems (NASDAQ:VRNS) Given New $30.00 Price Target at Barclays

Varonis Systems (NASDAQ:VRNS – Get Rating) had its price target increased by Barclays from $29.00 to $30.00 in a report published on Wednesday, The Fly reports. The firm currently has an equal weight rating on the technology company’s stock.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. initiated coverage on Varonis Systems in a research report on Tuesday, January 24th. They set an underweight rating and a $25.00 target price for the company. Piper Sandler raised their target price on Varonis Systems from $23.00 to $25.00 and gave the stock a neutral rating in a research report on Tuesday, February 7th. Jefferies Financial Group lowered Varonis Systems from a buy rating to a hold rating and lowered their target price for the stock from $30.00 to $26.00 in a research report on Thursday, January 5th. Truist Financial decreased their price target on Varonis Systems from $40.00 to $35.00 in a report on Monday, January 9th. Finally, Wells Fargo & Company upgraded Varonis Systems from an underweight rating to an equal weight rating and set a $26.00 price target for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $30.94.

Varonis Systems Stock Down 1.7 %

Shares of NASDAQ:VRNS opened at $25.37 on Wednesday. The firm has a market cap of $2.73 billion, a P/E ratio of -22.25 and a beta of 0.88. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.50. Varonis Systems has a 12-month low of $15.61 and a 12-month high of $51.60. The business has a fifty day simple moving average of $26.35 and a 200 day simple moving average of $24.82.

Varonis Systems (NASDAQ:VRNS – Get Rating) last announced its earnings results on Monday, February 6th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.03. The business had revenue of $142.62 million during the quarter, compared to analyst estimates of $140.58 million. Varonis Systems had a negative return on equity of 23.10% and a negative net margin of 26.29%. Analysts predict that Varonis Systems will post -0.82 earnings per share for the current year.

Insider Transactions at Varonis Systems

In other news, Director Ofer Segev sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $23.78, for a total transaction of $35,670.00. Following the transaction, the director now directly owns 72,410 shares of the company’s stock, valued at $1,721,909.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Varonis Systems

A number of institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in Varonis Systems by 3.3% in the 4th quarter. Macquarie Group Ltd. now owns 2,368,005 shares of the technology company’s stock valued at $56,690,000 after buying an additional 76,109 shares during the last quarter. B. Riley Asset Management LLC purchased a new stake in Varonis Systems in the 4th quarter valued at $1,353,000. State of Wisconsin Investment Board raised its position in Varonis Systems by 11.9% in the 4th quarter. State of Wisconsin Investment Board now owns 311,900 shares of the technology company’s stock valued at $7,467,000 after buying an additional 33,179 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Varonis Systems in the 4th quarter valued at $334,000. Finally, Legal & General Group Plc raised its position in Varonis Systems by 6.4% in the 4th quarter. Legal & General Group Plc now owns 992,819 shares of the technology company’s stock valued at $23,768,000 after buying an additional 60,071 shares during the last quarter. 90.72% of the stock is owned by institutional investors and hedge funds.

About Varonis Systems

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Varonis Systems, Inc engages in protecting enterprise data such as sensitive files and emails, confidential customer, patient, and employee data, financial records, strategic and product plans, and other intellectual property. It operates through the following geographical segments: North America, EMEA, and Rest of the World.