Varonis Systems (NASDAQ:VRNS) Price Target Cut to $35.00 by Analysts at Craig Hallum

Varonis Systems (NASDAQ:VRNSGet Rating) had its target price decreased by Craig Hallum from $64.00 to $35.00 in a research report released on Tuesday morning, The Fly reports. Craig Hallum currently has a buy rating on the technology company’s stock.

VRNS has been the topic of several other research reports. Cowen reduced their price target on Varonis Systems from $62.00 to $53.00 in a report on Tuesday. Jefferies Financial Group decreased their price objective on shares of Varonis Systems from $65.00 to $40.00 in a research report on Monday, May 23rd. Wolfe Research lowered shares of Varonis Systems from an outperform rating to a peer perform rating in a research note on Monday, July 25th. Summit Insights reissued a buy rating on shares of Varonis Systems in a research report on Monday, May 2nd. Finally, Barclays reduced their price objective on Varonis Systems from $36.00 to $32.00 and set an equal weight rating on the stock in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Varonis Systems presently has an average rating of Moderate Buy and a consensus target price of $45.25.

Varonis Systems Trading Up 9.6 %

Shares of NASDAQ:VRNS opened at $27.84 on Tuesday. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.46. Varonis Systems has a 52-week low of $24.58 and a 52-week high of $73.46. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -23.01 and a beta of 1.17. The business has a 50-day moving average price of $30.46 and a 200-day moving average price of $37.08.

Varonis Systems (NASDAQ:VRNSGet Rating) last issued its quarterly earnings data on Monday, May 2nd. The technology company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.10). Varonis Systems had a negative return on equity of 19.97% and a negative net margin of 31.58%. The firm had revenue of $96.26 million for the quarter, compared to analyst estimates of $96.00 million. During the same period in the previous year, the business earned ($0.34) EPS. Equities analysts predict that Varonis Systems will post -0.9 EPS for the current year.

Insider Activity

In other news, VP Dov Gottlieb sold 8,907 shares of Varonis Systems stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $33.07, for a total value of $294,554.49. Following the completion of the transaction, the vice president now owns 161,722 shares in the company, valued at $5,348,146.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Dov Gottlieb sold 8,907 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $33.07, for a total value of $294,554.49. Following the completion of the transaction, the vice president now directly owns 161,722 shares in the company, valued at approximately $5,348,146.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Avrohom J. Kess bought 2,400 shares of the firm’s stock in a transaction on Monday, May 9th. The shares were bought at an average price of $29.95 per share, with a total value of $71,880.00. Following the completion of the purchase, the director now owns 8,810 shares in the company, valued at approximately $263,859.50. The disclosure for this purchase can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Byrne Asset Management LLC bought a new position in Varonis Systems in the 1st quarter worth $25,000. Evoke Wealth LLC purchased a new position in shares of Varonis Systems during the fourth quarter valued at about $30,000. Quadrant Capital Group LLC increased its holdings in shares of Varonis Systems by 116.7% in the first quarter. Quadrant Capital Group LLC now owns 622 shares of the technology company’s stock worth $30,000 after purchasing an additional 335 shares during the last quarter. Ellevest Inc. lifted its position in shares of Varonis Systems by 586.0% in the second quarter. Ellevest Inc. now owns 1,228 shares of the technology company’s stock worth $36,000 after buying an additional 1,049 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Varonis Systems by 140.5% during the first quarter. Parallel Advisors LLC now owns 885 shares of the technology company’s stock valued at $42,000 after buying an additional 517 shares during the last quarter. Institutional investors own 93.20% of the company’s stock.

About Varonis Systems

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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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