Varonis Systems (NASDAQ:VRNS) Price Target Increased to $45.00 by Analysts at Wells Fargo & Company

Varonis Systems (NASDAQ:VRNSFree Report) had its target price lifted by Wells Fargo & Company from $42.00 to $45.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

VRNS has been the topic of a number of other research reports. Royal Bank of Canada lifted their price target on shares of Varonis Systems from $40.00 to $52.00 and gave the stock an outperform rating in a report on Monday, December 4th. William Blair reissued an outperform rating on shares of Varonis Systems in a research note on Tuesday, October 31st. Barclays raised shares of Varonis Systems from an equal weight rating to an overweight rating and lifted their price target for the company from $35.00 to $37.00 in a research note on Friday, October 13th. JPMorgan Chase & Co. lifted their price target on shares of Varonis Systems from $36.00 to $49.00 and gave the company a neutral rating in a research note on Monday, December 11th. Finally, Stephens lifted their price target on shares of Varonis Systems from $37.00 to $40.00 and gave the company an overweight rating in a research note on Tuesday, October 31st. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $48.40.

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Varonis Systems Stock Performance

Shares of Varonis Systems stock opened at $48.60 on Tuesday. Varonis Systems has a fifty-two week low of $22.34 and a fifty-two week high of $50.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.57 and a quick ratio of 2.57. The firm has a market capitalization of $5.29 billion, a P/E ratio of -52.83 and a beta of 0.83. The company’s 50 day moving average price is $44.66 and its two-hundred day moving average price is $36.45.

Insider Buying and Selling at Varonis Systems

In related news, SVP James O’boyle sold 16,501 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $45.53, for a total transaction of $751,290.53. Following the sale, the senior vice president now directly owns 422,018 shares in the company, valued at approximately $19,214,479.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 28,458 shares of company stock worth $1,295,413 over the last three months. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Varonis Systems

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Varonis Systems by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 11,251,092 shares of the technology company’s stock valued at $343,608,000 after buying an additional 180,082 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Varonis Systems by 1.7% during the 2nd quarter. Clearbridge Investments LLC now owns 3,643,876 shares of the technology company’s stock valued at $97,109,000 after buying an additional 59,976 shares in the last quarter. Cadian Capital Management LP lifted its stake in shares of Varonis Systems by 34.6% during the 3rd quarter. Cadian Capital Management LP now owns 3,574,334 shares of the technology company’s stock valued at $109,160,000 after buying an additional 919,334 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of Varonis Systems by 6.7% during the 3rd quarter. William Blair Investment Management LLC now owns 3,252,160 shares of the technology company’s stock valued at $99,321,000 after buying an additional 205,105 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Varonis Systems by 4.4% during the 2nd quarter. State Street Corp now owns 2,511,519 shares of the technology company’s stock valued at $66,932,000 after buying an additional 105,178 shares in the last quarter. 92.47% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Company Profile

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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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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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