Robert W. Baird Boosts Varonis Systems (NASDAQ:VRNS) Price Target to $62.00

Varonis Systems (NASDAQ:VRNS) had its price objective hoisted by Robert W. Baird from $60.00 to $62.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other research firms have also issued reports on VRNS. Barclays raised their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Wedbush reissued an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. TD Cowen boosted their price objective on shares of Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Susquehanna raised their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.63.

Varonis Systems Trading Up 1.0 %

NASDAQ:VRNS opened at $56.86 on Wednesday. The company has a market capitalization of $6.34 billion, a PE ratio of -60.49 and a beta of 0.82. Varonis Systems has a 52-week low of $30.89 and a 52-week high of $60.58. The stock’s 50 day moving average price is $56.11 and its 200 day moving average price is $49.74. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The business had revenue of $130.35 million for the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.35) EPS. On average, research analysts anticipate that Varonis Systems will post -0.83 EPS for the current year.

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new position in Varonis Systems during the first quarter worth about $63,000. International Assets Investment Management LLC raised its position in shares of Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,442 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Varonis Systems in the 2nd quarter valued at approximately $215,000. O Neil Global Advisors Inc. grew its holdings in Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after buying an additional 220 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Varonis Systems during the 2nd quarter valued at $260,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

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.