Jefferies Financial Group Raises Varonis Systems (NASDAQ:VRNS) Price Target to $92.00

Varonis Systems (NASDAQ:VRNS) had its price objective increased by Jefferies Financial Group from $88.00 to $92.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. They currently have a buy rating on the technology company’s stock. Jefferies Financial Group also issued estimates for Varonis Systems’ Q3 2019 earnings at ($0.56) EPS, Q4 2019 earnings at ($0.19) EPS, FY2019 earnings at ($2.12) EPS, Q1 2020 earnings at ($0.43) EPS, Q2 2020 earnings at ($0.46) EPS, Q3 2020 earnings at ($0.48) EPS, Q4 2020 earnings at ($0.28) EPS and FY2020 earnings at ($1.66) EPS.

Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Varonis Systems from a sell rating to a hold rating in a research note on Friday, June 28th. Wedbush boosted their price target on shares of Varonis Systems from $85.00 to $90.00 and gave the stock an outperform rating in a research note on Tuesday, July 30th. Barclays dropped their price target on shares of Varonis Systems from $81.00 to $68.00 and set an equal weight rating on the stock in a research note on Monday, October 7th. ValuEngine upgraded shares of Varonis Systems from a buy rating to a strong-buy rating in a research note on Thursday, August 1st. Finally, Craig Hallum boosted their price target on shares of Varonis Systems from $62.00 to $70.00 and gave the stock a hold rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $74.92.

Shares of Varonis Systems stock opened at $63.42 on Tuesday. Varonis Systems has a 52-week low of $48.67 and a 52-week high of $80.00. The company’s 50-day simple moving average is $64.21 and its 200-day simple moving average is $65.13. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -64.71 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, July 29th. The technology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.16). Varonis Systems had a negative return on equity of 40.22% and a negative net margin of 17.73%. The firm had revenue of $59.62 million for the quarter, compared to analyst estimates of $62.37 million. Equities analysts forecast that Varonis Systems will post -2.32 EPS for the current fiscal year.

In other Varonis Systems news, SVP James O’boyle sold 15,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the transaction, the senior vice president now directly owns 101,379 shares in the company, valued at $7,836,596.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ohad Korkus sold 6,861 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $80.00, for a total transaction of $548,880.00. Following the transaction, the director now owns 29,013 shares in the company, valued at $2,321,040. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of VRNS. FMR LLC grew its position in Varonis Systems by 81.3% during the first quarter. FMR LLC now owns 1,388,442 shares of the technology company’s stock worth $82,793,000 after buying an additional 622,639 shares during the period. Cadian Capital Management LP grew its position in shares of Varonis Systems by 97.1% in the second quarter. Cadian Capital Management LP now owns 989,553 shares of the technology company’s stock valued at $61,293,000 after purchasing an additional 487,453 shares during the last quarter. Holocene Advisors LP grew its position in shares of Varonis Systems by 4,936.0% in the second quarter. Holocene Advisors LP now owns 460,488 shares of the technology company’s stock valued at $28,523,000 after purchasing an additional 451,344 shares during the last quarter. Soma Equity Partners LP grew its position in shares of Varonis Systems by 75.0% in the second quarter. Soma Equity Partners LP now owns 1,050,000 shares of the technology company’s stock valued at $65,037,000 after purchasing an additional 450,000 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in shares of Varonis Systems by 54.3% in the first quarter. Clearbridge Investments LLC now owns 883,113 shares of the technology company’s stock valued at $52,660,000 after purchasing an additional 310,737 shares during the last quarter. Institutional investors own 93.61% of the company’s stock.

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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