Varonis Systems (NASDAQ:VRNS) Price Target Raised to $48.00 at Robert W. Baird

Varonis Systems (NASDAQ:VRNSFree Report) had its price target lifted by Robert W. Baird from $45.00 to $48.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company boosted their price objective on Varonis Systems from $42.00 to $45.00 and gave the stock an equal weight rating in a research report on Tuesday. Barclays raised Varonis Systems from an equal weight rating to an overweight rating and boosted their price objective for the stock from $35.00 to $37.00 in a research report on Friday, October 13th. Morgan Stanley boosted their price target on Varonis Systems from $42.00 to $45.00 and gave the company an overweight rating in a research note on Tuesday, November 14th. JPMorgan Chase & Co. boosted their price target on Varonis Systems from $49.00 to $50.00 and gave the company a neutral rating in a research note on Tuesday. Finally, JMP Securities restated a market outperform rating and set a $63.00 price target on shares of Varonis Systems in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $48.40.

View Our Latest Research Report on Varonis Systems

Varonis Systems Price Performance

Shares of NASDAQ:VRNS 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 stock has a market capitalization of $5.29 billion, a P/E ratio of -52.83 and a beta of 0.83. The business has a 50-day moving average of $44.66 and a two-hundred day moving average of $36.45.

Insider Activity at Varonis Systems

In related news, SVP James O’boyle sold 16,501 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $45.53, for a total transaction of $751,290.53. Following the completion of the sale, the senior vice president now directly owns 422,018 shares of the company’s stock, valued at approximately $19,214,479.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 28,458 shares of company stock valued at $1,295,413 in the last three months. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Lord Abbett & CO. LLC bought a new position in shares of Varonis Systems in the 3rd quarter worth $36,317,000. Scopia Capital Management LP bought a new position in Varonis Systems during the first quarter worth about $30,638,000. RGM Capital LLC lifted its holdings in Varonis Systems by 147.1% during the second quarter. RGM Capital LLC now owns 1,810,874 shares of the technology company’s stock worth $48,260,000 after acquiring an additional 1,077,922 shares in the last quarter. Norges Bank bought a new position in Varonis Systems during the fourth quarter worth about $25,432,000. Finally, Cadian Capital Management LP lifted its holdings in Varonis Systems by 34.6% during the third quarter. Cadian Capital Management LP now owns 3,574,334 shares of the technology company’s stock worth $109,160,000 after acquiring an additional 919,334 shares in the last quarter. 92.47% of the stock is currently owned by 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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