Varonis Systems (NASDAQ:VRNS) had its target price raised by Needham & Company LLC to $80.00 in a report issued on Tuesday morning. The brokerage currently has a buy rating on the technology company’s stock. The analysts noted that the move was a valuation call.

Several other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Varonis Systems from a sell rating to a buy rating and set a $74.00 target price on the stock in a report on Friday, April 20th. Barclays reaffirmed a hold rating and set a $65.00 target price on shares of Varonis Systems in a report on Friday, April 13th. Stifel Nicolaus increased their target price on shares of Varonis Systems from $60.00 to $70.00 and gave the company a buy rating in a report on Wednesday, April 11th. ValuEngine raised shares of Varonis Systems from a hold rating to a buy rating in a report on Monday, April 2nd. Finally, Benchmark reaffirmed a buy rating and set a $69.00 target price (up previously from $60.00) on shares of Varonis Systems in a report on Monday, April 2nd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $63.62.

Shares of NASDAQ:VRNS opened at $64.30 on Tuesday. Varonis Systems has a one year low of $30.55 and a one year high of $68.25. The firm has a market capitalization of $1,855.64, a PE ratio of -128.60 and a beta of 0.73.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, February 12th. The technology company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. Varonis Systems had a negative net margin of 6.30% and a negative return on equity of 15.65%. The company had revenue of $73.20 million for the quarter, compared to analyst estimates of $66.29 million. During the same quarter last year, the firm earned $0.24 EPS. The firm’s quarterly revenue was up 34.6% compared to the same quarter last year. equities research analysts expect that Varonis Systems will post -0.77 earnings per share for the current fiscal year.

In other Varonis Systems news, Director Gili Iohan sold 16,370 shares of the firm’s stock in a transaction on Monday, March 26th. The shares were sold at an average price of $60.41, for a total value of $988,911.70. Following the sale, the director now owns 53,149 shares of the company’s stock, valued at approximately $3,210,731.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Bass sold 17,500 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $57.43, for a total transaction of $1,005,025.00. Following the completion of the sale, the executive vice president now directly owns 127,250 shares in the company, valued at approximately $7,307,967.50. The disclosure for this sale can be found here. In the last three months, insiders sold 257,607 shares of company stock worth $14,774,744. Insiders own 4.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Teachers Advisors LLC lifted its position in shares of Varonis Systems by 3.0% in the 4th quarter. Teachers Advisors LLC now owns 35,037 shares of the technology company’s stock worth $1,701,000 after purchasing an additional 1,029 shares during the period. Emerald Advisers Inc. PA lifted its position in shares of Varonis Systems by 0.3% in the 4th quarter. Emerald Advisers Inc. PA now owns 719,544 shares of the technology company’s stock worth $34,934,000 after purchasing an additional 2,384 shares during the period. New York State Common Retirement Fund lifted its position in shares of Varonis Systems by 9.5% in the 3rd quarter. New York State Common Retirement Fund now owns 41,740 shares of the technology company’s stock worth $1,749,000 after purchasing an additional 3,620 shares during the period. GSA Capital Partners LLP lifted its position in shares of Varonis Systems by 64.0% in the 3rd quarter. GSA Capital Partners LLP now owns 10,118 shares of the technology company’s stock worth $424,000 after purchasing an additional 3,950 shares during the period. Finally, CAPROCK Group Inc. purchased a new stake in shares of Varonis Systems in the 4th quarter worth about $220,000. 84.51% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Company Profile

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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