Varonis Systems (NASDAQ:VRNS) PT Raised to $50.00

Varonis Systems (NASDAQ:VRNSGet Free Report) had its target price boosted by analysts at JPMorgan Chase & Co. from $49.00 to $50.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 3.20% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citigroup boosted their price target on shares of Varonis Systems from $35.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 price objective (up previously from $37.00) on shares of Varonis Systems in a research note on Thursday, January 18th. Susquehanna initiated coverage on shares of Varonis Systems in a research report on Friday, December 15th. They issued a “positive” rating and a $55.00 target price for the company. Finally, Wedbush upgraded shares of 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 research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.40.

Read Our Latest Stock Report on VRNS

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $48.45 on Tuesday. Varonis Systems has a 1-year low of $22.34 and a 1-year high of $50.60. The firm has a market cap of $5.28 billion, a PE ratio of -52.66 and a beta of 0.83. The company has a fifty day moving average price of $44.82 and a 200 day moving average price of $36.61. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.56.

Insider Activity

In related news, SVP James O’boyle sold 16,501 shares of Varonis Systems stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $45.53, for a total value of $751,290.53. Following the sale, the senior vice president now owns 422,018 shares of the company’s stock, valued at $19,214,479.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 28,458 shares of company stock worth $1,295,413 over the last three months. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in shares of Varonis Systems by 5,876.4% during the 4th quarter. Principal Financial Group Inc. now owns 679,520 shares of the technology company’s stock worth $30,769,000 after purchasing an additional 668,150 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Varonis Systems by 18.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,108,532 shares of the technology company’s stock valued at $50,195,000 after acquiring an additional 173,325 shares during the period. AGF Management Ltd. purchased a new position in shares of Varonis Systems during the fourth quarter valued at about $3,171,000. Teacher Retirement System of Texas grew its holdings in Varonis Systems by 172.7% in the fourth quarter. Teacher Retirement System of Texas now owns 23,188 shares of the technology company’s stock worth $1,050,000 after purchasing an additional 14,686 shares during the period. Finally, Sawgrass Asset Management LLC bought a new position in shares of Varonis Systems in the fourth quarter worth approximately $216,000. 92.47% of the stock is currently owned by institutional investors.

Varonis Systems Company Profile

(Get Free Report)

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; strategic and product plans; and other intellectual property.

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