Stephens Reaffirms Overweight Rating for Varonis Systems (NASDAQ:VRNS)

Stephens reissued their overweight rating on shares of Varonis Systems (NASDAQ:VRNSFree Report) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $55.00 target price on the technology company’s stock.

A number of other research firms have also recently weighed in on VRNS. StockNews.com cut Varonis Systems from a buy rating to a hold rating in a report on Thursday, November 16th. Barclays upgraded Varonis Systems from an equal weight rating to an overweight rating and upped their price target for the stock from $35.00 to $37.00 in a report on Friday, October 13th. JMP Securities restated a market outperform rating and issued a $63.00 price target on shares of Varonis Systems in a report on Monday. William Blair reiterated an outperform rating on shares of Varonis Systems in a report on Tuesday, October 31st. Finally, DA Davidson reiterated a neutral rating and set a $45.00 target price (up previously from $37.00) on shares of Varonis Systems in a report on Thursday, January 18th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $48.40.

Check Out Our Latest Stock Analysis on Varonis Systems

Varonis Systems Stock Performance

Shares of VRNS stock opened at $50.69 on Tuesday. The company has a market cap of $5.52 billion, a price-to-earnings ratio of -55.10 and a beta of 0.83. The stock has a 50 day simple moving average of $44.96 and a 200-day simple moving average of $36.69. Varonis Systems has a 12-month low of $22.34 and a 12-month high of $51.24. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 0.56.

Insider Buying and Selling

In other Varonis Systems news, SVP James O’boyle sold 7,859 shares of Varonis Systems stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $45.51, for a total value of $357,663.09. Following the completion of the transaction, the senior vice president now directly owns 414,159 shares in the company, valued at $18,848,376.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 28,458 shares of company stock worth $1,295,413. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

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