Stifel Nicolaus Raises Varonis Systems (VRNS) Price Target to $60.00

Varonis Systems (NASDAQ:VRNS) had its target price boosted by Stifel Nicolaus from $55.00 to $60.00 in a research report released on Tuesday morning, Marketbeat reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

A number of other analysts have also recently weighed in on the company. Royal Bank of Canada reissued a buy rating and issued a $55.00 price objective on shares of Varonis Systems in a research report on Thursday, December 7th. Needham & Company LLC raised their price objective on Varonis Systems from $52.00 to $65.00 and gave the stock a buy rating in a research report on Friday, January 19th. Oppenheimer initiated coverage on Varonis Systems in a research report on Wednesday, December 6th. They issued an outperform rating and a $57.00 price objective for the company. Stephens reissued a buy rating and issued a $58.00 price objective on shares of Varonis Systems in a research report on Friday, January 12th. Finally, Barclays reissued a neutral rating on shares of Varonis Systems in a research report on Tuesday, December 19th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $57.92.

Shares of Varonis Systems (NASDAQ:VRNS) opened at $56.30 on Tuesday. The firm has a market capitalization of $1,462.81, a price-to-earnings ratio of -108.27 and a beta of 0.89. Varonis Systems has a 52-week low of $26.35 and a 52-week high of $56.80.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, February 12th. The technology company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. The firm had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $66.29 million. Varonis Systems had a negative return on equity of 15.65% and a negative net margin of 6.30%. The business’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. research analysts anticipate that Varonis Systems will post -0.42 earnings per share for the current year.

In other Varonis Systems news, CFO Guy Melamed sold 897 shares of Varonis Systems stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $48.95, for a total transaction of $43,908.15. Following the completion of the sale, the chief financial officer now owns 95,408 shares of the company’s stock, valued at approximately $4,670,221.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Ohad Korkus sold 9,277 shares of Varonis Systems stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $51.28, for a total value of $475,724.56. Following the sale, the chief technology officer now directly owns 84,510 shares of the company’s stock, valued at approximately $4,333,672.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 223,754 shares of company stock valued at $11,352,516. 19.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of VRNS. CAPROCK Group Inc. acquired a new position in shares of Varonis Systems in the 4th quarter valued at about $220,000. ETRADE Capital Management LLC acquired a new position in shares of Varonis Systems in the 4th quarter valued at about $209,000. Teacher Retirement System of Texas acquired a new position in shares of Varonis Systems in the 4th quarter valued at about $254,000. Invictus RG acquired a new position in shares of Varonis Systems in the 4th quarter valued at about $271,000. Finally, Schmidt P J Investment Management Inc. acquired a new position in shares of Varonis Systems in the 3rd quarter valued at about $243,000. 84.91% of the stock is owned by institutional investors.

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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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