Varonis Systems (NASDAQ:VRNS) Upgraded to Outperform at Wedbush

Wedbush upgraded shares of Varonis Systems (NASDAQ:VRNSFree Report) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have $65.00 price target on the technology company’s stock, up from their prior price target of $35.00.

VRNS has been the topic of several other reports. Barclays raised shares of Varonis Systems from an equal weight rating to an overweight rating and boosted their target price for the company from $35.00 to $37.00 in a research note on Friday, October 13th. DA Davidson restated a neutral rating and set a $45.00 price target (up from $37.00) on shares of Varonis Systems in a report on Thursday, January 18th. Royal Bank of Canada boosted their price target on shares of Varonis Systems from $40.00 to $52.00 and gave the company an outperform rating in a report on Monday, December 4th. William Blair restated an outperform rating on shares of Varonis Systems in a report on Tuesday, October 31st. Finally, Wells Fargo & Company upped their price objective on shares of Varonis Systems from $29.00 to $42.00 and gave the stock an equal weight rating in a report on Monday, January 29th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $48.40.

Get Our Latest Analysis on VRNS

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $48.60 on Tuesday. The company’s fifty day moving average is $44.66 and its two-hundred day moving average is $36.45. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.56. Varonis Systems has a 12-month low of $22.34 and a 12-month high of $50.60. The company has a market cap of $5.29 billion, a P/E ratio of -52.83 and a beta of 0.83.

Insider Buying and Selling

In other Varonis Systems news, SVP James O’boyle sold 7,859 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $45.51, for a total transaction of $357,663.09. Following the completion of the transaction, the senior vice president now owns 414,159 shares in the company, valued at $18,848,376.09. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 28,458 shares of company stock valued at $1,295,413 over the last quarter. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of VRNS. Mackenzie Financial Corp lifted its position in Varonis Systems by 5.6% in the 1st quarter. Mackenzie Financial Corp now owns 6,103 shares of the technology company’s stock valued at $290,000 after acquiring an additional 325 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Varonis Systems by 4.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 8,502 shares of the technology company’s stock worth $260,000 after buying an additional 356 shares in the last quarter. Captrust Financial Advisors lifted its position in Varonis Systems by 35.9% during the 1st quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock worth $66,000 after buying an additional 366 shares in the last quarter. Natixis Advisors L.P. lifted its position in Varonis Systems by 3.7% during the 4th quarter. Natixis Advisors L.P. now owns 10,441 shares of the technology company’s stock worth $472,000 after buying an additional 370 shares in the last quarter. Finally, American International Group Inc. lifted its position in Varonis Systems by 1.4% during the 2nd quarter. American International Group Inc. now owns 52,358 shares of the technology company’s stock worth $1,395,000 after buying an additional 707 shares in the last quarter. Institutional investors own 92.47% of the company’s stock.

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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