Barclays Trims Varonis Systems (NASDAQ:VRNS) Target Price to $32.00

Varonis Systems (NASDAQ:VRNSGet Rating) had its price target cut by Barclays from $36.00 to $32.00 in a report published on Tuesday morning, The Fly reports. They currently have an equal weight rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial decreased their target price on shares of Varonis Systems from $65.00 to $50.00 in a research note on Tuesday, May 10th. Morgan Stanley downgraded shares of Varonis Systems from an overweight rating to an equal weight rating and set a $35.00 target price for the company. in a report on Monday, June 27th. Piper Sandler cut their price objective on shares of Varonis Systems from $45.00 to $37.00 and set an overweight rating on the stock in a report on Tuesday. Wedbush dropped their target price on Varonis Systems from $60.00 to $52.00 and set an outperform rating on the stock in a research report on Tuesday, May 3rd. Finally, Citigroup dropped their price objective on shares of Varonis Systems from $47.00 to $36.00 in a research note on Friday, July 22nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $45.25.

Varonis Systems Stock Down 0.9 %

Shares of NASDAQ VRNS opened at $29.96 on Tuesday. The company has a current ratio of 4.34, a quick ratio of 4.61 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $30.28 and a two-hundred day simple moving average of $36.92. The firm has a market capitalization of $3.28 billion, a PE ratio of -24.36 and a beta of 1.17. Varonis Systems has a 12 month low of $24.58 and a 12 month high of $73.46.

Insider Activity

In other news, Director Avrohom J. Kess acquired 2,400 shares of Varonis Systems stock in a transaction that occurred on Monday, May 9th. The stock was purchased at an average price of $29.95 per share, with a total value of $71,880.00. Following the completion of the transaction, the director now owns 8,810 shares in the company, valued at $263,859.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Varonis Systems news, Director Avrohom J. Kess acquired 2,400 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average price of $29.95 per share, with a total value of $71,880.00. Following the transaction, the director now owns 8,810 shares of the company’s stock, valued at $263,859.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Dov Gottlieb sold 8,907 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $33.07, for a total value of $294,554.49. Following the transaction, the vice president now directly owns 161,722 shares of the company’s stock, valued at approximately $5,348,146.54. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VRNS. Byrne Asset Management LLC bought a new position in Varonis Systems during the 1st quarter worth about $25,000. Quadrant Capital Group LLC lifted its stake in Varonis Systems by 116.7% in the 1st quarter. Quadrant Capital Group LLC now owns 622 shares of the technology company’s stock valued at $30,000 after purchasing an additional 335 shares during the last quarter. Evoke Wealth LLC acquired a new stake in Varonis Systems during the fourth quarter worth approximately $30,000. Parallel Advisors LLC lifted its position in Varonis Systems by 140.5% during the first quarter. Parallel Advisors LLC now owns 885 shares of the technology company’s stock worth $42,000 after acquiring an additional 517 shares during the last quarter. Finally, Ellevest Inc. raised its position in shares of Varonis Systems by 586.0% in the second quarter. Ellevest Inc. now owns 1,228 shares of the technology company’s stock valued at $36,000 after buying an additional 1,049 shares in the last quarter. Institutional investors and hedge funds own 93.20% of the company’s stock.

About Varonis Systems

(Get Rating)

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.

Further Reading

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