Varonis Systems (NASDAQ:VRNS) Price Target Increased to $65.00 by Analysts at JPMorgan Chase & Co.

Varonis Systems (NASDAQ:VRNS) had its price objective increased by JPMorgan Chase & Co. from $59.00 to $65.00 in a report released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the technology company’s stock.

Several other equities research analysts have also issued reports on VRNS. Wells Fargo & Company raised their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Piper Sandler raised their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. TD Cowen lifted their price objective on shares of Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price objective on shares of Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Varonis Systems has a consensus rating of “Moderate Buy” and a consensus price target of $58.31.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS opened at $57.38 on Monday. Varonis Systems has a 52 week low of $31.03 and a 52 week high of $60.58. The stock has a market capitalization of $6.40 billion, a P/E ratio of -61.04 and a beta of 0.82. The firm has a fifty day simple moving average of $56.11 and a two-hundred day simple moving average of $49.79. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. The firm had revenue of $130.35 million during the quarter, compared to analyst estimates of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.35) EPS. On average, analysts expect that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Varonis Systems by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock valued at $530,978,000 after purchasing an additional 155,040 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Varonis Systems by 4.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock valued at $137,885,000 after purchasing an additional 127,129 shares in the last quarter. William Blair Investment Management LLC increased its stake in Varonis Systems by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock valued at $106,396,000 after purchasing an additional 23,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Varonis Systems by 126.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock valued at $90,336,000 after purchasing an additional 1,070,821 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Varonis Systems by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company’s stock valued at $78,517,000 after purchasing an additional 133,109 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Company Profile

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; source code, strategic and product plans; and other intellectual property.