Varonis Systems, Inc. (NASDAQ:VRNS) Given Average Rating of “Moderate Buy” by Analysts

Varonis Systems, Inc. (NASDAQ:VRNS) has earned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $59.67.

Several equities research analysts have weighed in on VRNS shares. Robert W. Baird raised their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. TD Cowen lifted their target price on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Piper Sandler raised their price target on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Truist Financial reissued a “buy” rating and set a $60.00 price objective (up from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th.

Varonis Systems Stock Down 2.2 %

Shares of Varonis Systems stock opened at $51.08 on Tuesday. Varonis Systems has a 52-week low of $36.87 and a 52-week high of $60.58. The firm’s 50 day moving average price is $55.20 and its 200-day moving average price is $50.60. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.74 billion, a P/E ratio of -68.11 and a beta of 0.82.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.22) earnings per share. On average, sell-side analysts predict that Varonis Systems will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the sale, the insider now directly owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Varonis Systems

A number of large investors have recently bought and sold shares of VRNS. EFG Asset Management North America Corp. increased its position in shares of Varonis Systems by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock valued at $2,181,000 after buying an additional 216 shares in the last quarter. O Neil Global Advisors Inc. raised its position in shares of Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after purchasing an additional 220 shares during the last quarter. Hanseatic Management Services Inc. lifted its position in shares of Varonis Systems by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock valued at $770,000 after acquiring an additional 275 shares in the last quarter. Xponance Inc. lifted its holdings in Varonis Systems by 5.6% in the 2nd quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after purchasing an additional 367 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Varonis Systems by 3.5% in the second quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock worth $572,000 after buying an additional 401 shares in the last quarter. Institutional investors and hedge funds 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.