Varonis Systems (NASDAQ:VRNS) had its target price raised by Needham & Company LLC from $130.00 to $135.00 in a report released on Monday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

A number of other research firms have also weighed in on VRNS. SunTrust Banks initiated coverage on shares of Varonis Systems in a research report on Thursday, July 23rd. They set a buy rating and a $130.00 price target on the stock. JPMorgan Chase & Co. raised their price target on shares of Varonis Systems from $130.00 to $145.00 in a research report on Tuesday, August 4th. Oppenheimer reissued a buy rating and set a $125.00 price target (up from $95.00) on shares of Varonis Systems in a research report on Tuesday, August 4th. Benchmark raised their price target on shares of Varonis Systems from $112.00 to $130.00 and gave the company a buy rating in a research report on Tuesday, August 4th. Finally, Craig Hallum raised their price target on shares of Varonis Systems from $70.00 to $110.00 and gave the company a hold rating in a research report on Tuesday, August 4th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $116.17.

Shares of NASDAQ VRNS opened at $112.90 on Monday. The stock has a market capitalization of $3.56 billion, a P/E ratio of -39.89 and a beta of 1.17. The company has a 50-day moving average price of $115.76 and a 200-day moving average price of $87.58. Varonis Systems has a 1 year low of $48.95 and a 1 year high of $127.37. The company has a debt-to-equity ratio of 3.42, a current ratio of 2.69 and a quick ratio of 2.69.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Monday, August 3rd. The technology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.20. The firm had revenue of $66.57 million during the quarter, compared to analysts’ expectations of $56.89 million. Varonis Systems had a negative net margin of 33.75% and a negative return on equity of 97.77%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned ($0.30) earnings per share. As a group, equities research analysts anticipate that Varonis Systems will post -2.73 earnings per share for the current fiscal year.

In other news, EVP David Bass sold 47,500 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $99.08, for a total value of $4,706,300.00. Following the sale, the executive vice president now owns 172,275 shares of the company’s stock, valued at $17,069,007. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Yakov Faitelson sold 60,663 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $119.34, for a total transaction of $7,239,522.42. Following the completion of the sale, the chief executive officer now directly owns 207,972 shares in the company, valued at approximately $24,819,378.48. The disclosure for this sale can be found here. In the last three months, insiders sold 175,977 shares of company stock worth $18,934,584. Insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its position in shares of Varonis Systems by 4.5% in the second quarter. Ameritas Investment Partners Inc. now owns 2,753 shares of the technology company’s stock valued at $244,000 after purchasing an additional 119 shares during the period. Tudor Investment Corp Et Al grew its stake in Varonis Systems by 1.7% during the second quarter. Tudor Investment Corp Et Al now owns 8,809 shares of the technology company’s stock valued at $779,000 after acquiring an additional 148 shares in the last quarter. Baker Avenue Asset Management LP grew its stake in Varonis Systems by 4.5% during the second quarter. Baker Avenue Asset Management LP now owns 5,152 shares of the technology company’s stock valued at $456,000 after acquiring an additional 221 shares in the last quarter. Rhumbline Advisers grew its stake in Varonis Systems by 0.6% during the first quarter. Rhumbline Advisers now owns 40,636 shares of the technology company’s stock valued at $2,587,000 after acquiring an additional 257 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in Varonis Systems by 4.4% during the second quarter. Banque Cantonale Vaudoise now owns 7,748 shares of the technology company’s stock valued at $686,000 after acquiring an additional 329 shares in the last quarter.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee 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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