Piper Sandler Has Lowered Expectations for Varonis Systems (NASDAQ:VRNS) Stock Price

Varonis Systems (NASDAQ:VRNS) had its price target reduced by Piper Sandler from $55.00 to $50.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Piper Sandler’s target price suggests a potential upside of 12.84% from the stock’s previous close.

A number of other research analysts also recently issued reports on VRNS. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a report on Monday. Robert W. Baird upped their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Barclays lifted their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. UBS Group boosted their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.35.

Varonis Systems Stock Down 1.8 %

Shares of Varonis Systems stock opened at $44.31 on Monday. The company has a 50-day simple moving average of $48.98 and a two-hundred day simple moving average of $51.69. The stock has a market capitalization of $4.98 billion, a PE ratio of -59.08 and a beta of 0.83. Varonis Systems has a 52-week low of $41.13 and a 52-week high of $60.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.22) EPS. On average, analysts anticipate that Varonis Systems will post -0.73 EPS for the current fiscal year.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the sale, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after purchasing an additional 423 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after buying an additional 2,442 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Varonis Systems during the third quarter worth $184,000. KBC Group NV boosted its position in shares of Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after acquiring an additional 663 shares during the last quarter. Finally, Atom Investors LP purchased a new position in Varonis Systems during the third quarter valued at $224,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Company Profile

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.