Varonis Systems (NASDAQ:VRNS) Price Target Lowered to $53.00 at Cowen

Posted by MarketBeat News on Aug 3rd, 2022

Varonis Systems (NASDAQ:VRNS – Get Rating) had its price target reduced by Cowen from $62.00 to $53.00 in a research note released on Tuesday, Stock Target Advisor reports.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group lowered their price target on Varonis Systems from $65.00 to $40.00 in a research report on Monday, May 23rd. Barclays decreased their price objective on Varonis Systems from $36.00 to $32.00 and set an equal weight rating for the company in a report on Tuesday. Wells Fargo & Company decreased their price objective on Varonis Systems from $40.00 to $35.00 and set an overweight rating for the company in a report on Tuesday. Summit Insights reissued a buy rating on shares of Varonis Systems in a report on Monday, May 2nd. Finally, Citigroup decreased their price objective on Varonis Systems from $47.00 to $36.00 in a report on Friday, July 22nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Varonis Systems currently has a consensus rating of Moderate Buy and a consensus price target of $45.25.

Varonis Systems Stock Performance

Shares of VRNS opened at $27.84 on Tuesday. The stock has a 50-day moving average of $30.46 and a two-hundred day moving average of $37.08. Varonis Systems has a one year low of $24.58 and a one year high of $73.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 4.61 and a current ratio of 4.61. The stock has a market cap of $3.05 billion, a P/E ratio of -23.01 and a beta of 1.17.

Varonis Systems (NASDAQ:VRNS – Get Rating) last issued its quarterly earnings results 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 prior year, the firm posted ($0.34) EPS. As a group, research analysts predict that Varonis Systems will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other Varonis Systems news, VP Dov Gottlieb sold 8,907 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $33.07, for a total transaction of $294,554.49. Following the completion of the sale, the vice president now directly owns 161,722 shares in the company, valued at approximately $5,348,146.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Varonis Systems news, VP Dov Gottlieb sold 8,907 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $33.07, for a total transaction of $294,554.49. Following the completion of the sale, the vice president now directly owns 161,722 shares in the company, valued at approximately $5,348,146.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Avrohom J. Kess acquired 2,400 shares of the business’s stock in a transaction on Monday, May 9th. The shares were purchased 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. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

Large investors have recently made changes to their positions in the stock. Byrne Asset Management LLC purchased a new stake in shares of Varonis Systems in the first quarter valued at approximately $25,000. Evoke Wealth LLC purchased a new stake in shares of Varonis Systems in the fourth quarter valued at approximately $30,000. Quadrant Capital Group LLC grew its position 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 valued at $30,000 after purchasing an additional 335 shares in the last quarter. Ellevest Inc. grew 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 valued at $36,000 after purchasing an additional 1,049 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Varonis Systems by 140.5% in the first quarter. Parallel Advisors LLC now owns 885 shares of the technology company’s stock valued at $42,000 after purchasing an additional 517 shares in the last quarter. 93.20% of the stock is currently owned by hedge funds and other institutional investors.

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.