Varonis Systems’ (VRNS) “Market Outperform” Rating Reiterated at JMP Securities

Varonis Systems (NASDAQ:VRNSGet Free Report)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a report released on Monday, Benzinga reports. They currently have a $63.00 price target on the technology company’s stock. JMP Securities’ target price points to a potential upside of 29.63% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on VRNS. Citigroup boosted their price target on shares of Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Royal Bank of Canada raised their target price on shares of Varonis Systems from $40.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Stephens upped their price target on shares of Varonis Systems from $37.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 31st. William Blair reaffirmed an “outperform” rating on shares of Varonis Systems in a research report on Tuesday, October 31st. Finally, Morgan Stanley upped their target price on Varonis Systems from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.40.

Read Our Latest Stock Analysis on Varonis Systems

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $48.60 on Monday. Varonis Systems has a twelve month low of $22.34 and a twelve month high of $50.60. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $5.29 billion, a PE ratio of -48.12 and a beta of 0.83. The firm’s 50 day moving average price is $44.66 and its 200-day moving average price is $36.45.

Insider Transactions at Varonis Systems

In other news, SVP James O’boyle sold 7,859 shares of the company’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $45.51, for a total transaction of $357,663.09. Following the completion of the sale, the senior vice president now directly owns 414,159 shares of the company’s stock, valued at $18,848,376.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 28,458 shares of company stock valued at $1,295,413. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Pinebridge Investments L.P. bought a new position in shares of Varonis Systems during the 2nd quarter worth about $33,000. Lord Abbett & CO. LLC acquired a new position in shares of Varonis Systems during the 3rd quarter worth about $36,317,000. Lisanti Capital Growth LLC acquired a new stake in Varonis Systems in the third quarter valued at $5,257,000. The Manufacturers Life Insurance Company increased its position in Varonis Systems by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,197,544 shares of the technology company’s stock worth $31,915,000 after buying an additional 77,496 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in Varonis Systems by 11.2% during the 3rd quarter. California Public Employees Retirement System now owns 199,139 shares of the technology company’s stock valued at $6,082,000 after purchasing an additional 20,058 shares during the last quarter. 92.47% of the stock is owned by institutional investors.

About Varonis Systems

(Get Free Report)

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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